VAT Planning

Forward planning can save time and money, two of the most crucial commodities for any business. When it comes to VAT planning it is critical to obtain the correct advice at the outset to minimise exposure to VAT, while complying with VAT laws.

HMRC accepts that businesses can structure their affairs to minimise their VAT liability on the criteria that the transactions are bona fide commercial transactions that are not structured with the sole objective of increasing Input Tax (VAT) recovery, or minimising Output Tax (VAT) charged.

VAT is a transaction-based tax and its implications should be considered before a business undertakes either a new type of sale or purchase (i.e. an export / import or any one-off major transaction). This would include the sale of land or property, and the possible complexities of any ‘Option To Tax’ and Capital Goods Scheme implications. It is therefore beneficial to seek specialist VAT advice as early as possible in the proceedings to ensure the best outcome for your business. At WB VAT we have a wealth of experience and in-depth understanding of VAT legislation, as well as HMRC’s policies and internal procedures. This ensures we can provide expert help on a wide range of your business transactions.