Wbg prides itself on helping its clients understand how VAT impacts their business and in making potentially complex issues straightforward.
Although mistakes can be costly, it is also possible to correct mistakes, and we find innovative ways to manage VAT issues and minimise the impact of VAT on businesses.
Wbg’s VAT specialists provide clear, practical, and pragmatic advice to help our clients stay on the right side of the VAT rules but not at the expense of identifying opportunities to reduce irrecoverable VAT costs.
Frequently asked questions
Although taxpayers are required to notify HMRC when their taxable turnover exceeds the VAT registration threshold, it is also possible to register on a voluntary basis, usually when to do so would maximise VAT recovery opportunities.
It may also be possible to seek HMRC’s agreement to waive VAT registration in certain circumstances, particularly if a taxpayer doesn’t expect their turnover to remain above the VAT registration threshold.
We always recommend a review of a client’s options before a VAT registration application is made.
It is also possible for a UK business to become liable to register for UK VAT if they buy services from non-UK suppliers, even if they would not otherwise be liable to register for VAT.
Yes. Making Tax Digital for VAT is already mandatory for all VAT-registered businesses, requiring digital record keeping and digital submission of returns. We’ll make sure you’re fully compliant.
Property VAT is one of the most complex areas of VAT, but one that affects most businesses and organisations in one way or another. There are numerous complex VAT rules that apply to all types of property, whether residential, commercial or for charitable use.
That said, it is also an area that can easily become more complicated than it needs to be, and our VAT specialists are experts at demystifying these complex rules.
Opting to Tax non-residential property can become complicated and needs to be handled carefully. Forward planning is highly recommended to avoid unnecessary complications in future, such as when land or buildings are to be transferred, sold, or subject to due diligence.
Property VAT is definitely an area where specialist VAT advice can make a big difference, and we’d always recommend taking advice at the earliest opportunity.
If your business makes both taxable supplies and VAT exempt supplies, or some of your activities are not business activities (e.g. charitable activities) it is usually only possible to recover the VAT on costs that are used to carry out taxable activities. The calculations required to determine the level of VAT you can recover can be complex but getting them right will minimise irrecoverable VAT costs and ensure compliance.
Yes. We support businesses through VAT enquiries, assessments, and disputes, and we also advise and assist on the disclosure of VAT errors disclosures where an error needs to be corrected.
WHY CHOOSE WBG?
Genuine VAT specialism:
A dedicated advisory capability lead by an experienced VAT practitioner.
Practical and clear:
We translate complex VAT rules into practical advice you can rely on with confidence.
Compliance and advisory together:
From routine returns to complex transactions, handled by a team who makes it their business to know your business.
The whole firm behind you:
VAT rarely sits alone. We connect you with the right expertise across Wbg when a matter spans more than one discipline.
