Supporting your business in effective management of VAT issues
Our tax team takes the time to develop an in depth understanding of your business and its tax responsibilities, helping to navigate a wide range of UK VAT matters including domestic UK issues and cross-border matters inside and outside the EU.
Mastery of VAT law is crucial to the success of a business. Our expert lawyers, with deep experience in this field, are ready to provide you with world-class service in VAT law. With the current standard VAT rate of 20%, VAT is at least a material cash flow item for businesses even where it can be recovered. If VAT cannot be recovered, it is a significant absolute cost. It is therefore important to make the correct VAT decisions, especially when setting up a new business structure.
We are perfectly placed to help listed plcs, trading companies, investment companies, investment funds, property traders, investors and developers and SME company owners.
Our experience includes advising on transactional matters. We advise on the VAT implications of real estate transactions as well as other types of commercial arrangements where no real estate is involved.
Our work in VAT includes:
- Whether VAT is chargeable in a given situation and if so, what rate of VAT applies
- The VAT treatment of real estate transactions, which is a complex area. There may be a choice as to whether to charge VAT, and it is important for the seller/landlord to know the implications of not charging
- Whether a business needs to register for VAT
- Whether VAT may be recovered
- VAT for groups of companies
- Business transfers
- Outsourcing arrangements
- Application of VAT to goodwill and other intellectual property
- VAT and charities
- Non business use of assets
- Cross border supplies of services
- VAT where insolvency is involved
- VAT and compensation payments, for example when litigation is settled out of court