Our team at Barrons have extensive knowledge and expertise to help guide you through the challenges of being compliant with VAT legislation. We can assist you with the proper completion of your returns and HMRC relationship if required.
We are experienced in advising clients across multiple sectors and operate with a service level that can assist traders with calculating, compiling and declaring VAT. We can extend this offering of support and consultancy to those everyday (and not so common) issues that traders confront as their business develops. This could be in relation to the nature of supply, the location of supply and/or complex sectors of industry where there are mixed rates applying to the supply of goods and services.
We offer a range of services covering areas such as:
We can handle you application to register for VAT, and also to deal with de-registration as and when that become appropriate.
Where instructed, we can take full responsibility for ensuring that VAT returns are prepared and made available to you a timely basis for you to approve before they are filed with HMRC.
We offer day to day support to those seeking assistance with their reporting or compliance challenges, through service capabilities such as:
- Regulatory
- VAT registration and de-registration
- VAT misdeclarations
- HMRC Assessment reviews
- Back Office Support
- General training in the basics of VAT
- Bespoke training to cover specific VAT complexities within the nature of supply
- VAT Health Checks and annual reviews to maintain ongoing compliance
- Services
- Advising upon VAT challenges within your particular sector of industry
- Advising upon the nature of supply
- Review and advising upon an individual specific / series of transactions
- Advising upon forming a VAT group
- Dealing with HMRC correspondence, compliance visits and assessments
- Supporting you through VAT Tribunals
For those intricate VAT matters, we offer a bespoke advisory service, supported by a network of VAT specialists and consultants, such as
- Tour Operators Margin Scheme (TOMS) VAT calculations and annual reconciliations
- Partial exemption VAT calculations
- Cross border transactions
All traders operating in the UK are required to register for VAT if their total taxable turnover for the last 12 months goes over £90,000 (2024/25).
However, VAT is not a simple tax. It is not just about adding a fixed percentage to the value of sales; it is about understanding if your supply is taxable and at what rate. With various complexities inherent in the legislation, working out what is and is not a taxable supply is far from simple.
Getting VAT wrong can be very costly to your business; it can lead to the discovery of underdeclared VAT by HMRC which the business may not be able to recover from the original customer. There are also stringent penalties and interest costs that HMRC will levy for noncompliance.
Our service offering is wide-ranging. However, no matter what service we are delivering, we never forget the importance of working with you to understand your business needs.
Through the wealth of knowledge inherent in our in-house experts and consultants, we seek to provide a pathway to robust levels of compliance with VAT legislation.
