SCS Accounting Solutions

VAT

VAT is a self-assessed tax, meaning each registered business is responsible for accurate  reporting to HMRC. The rules are constantly changing and it can be difficult to keep up-to-date. With high VAT rates, penalty risks and new Making Tax Digital reporting, the cost of making a mistake can be significant.

Our VAT accountants advise businesses across all sectors on meeting their VAT compliance obligations in an efficient manner. Public guidance is not always clear and we are able to assist and advise you on all areas of VAT compliance.

What does our VAT service include?

  • Review of VAT systems and accounting procedures
  • VAT registrations
  • Transfers of going concerns
  • Partial exemption and Capital Goods Scheme calculations
  • Opting to tax land and property
  • Advice on special VAT accounting schemes (e.g. cash accounting)
  • VAT rates and liabilities
  • Invoicing and record keeping requirements
  • Correct application of VAT reliefs
  • Dealing with errors, corrections and VAT reclaims
  • Making Tax Digital compliance
We can undertake and complete VAT returns, EC Sales Lists, applications for registrations, and option to tax forms on your behalf. 

If a VAT inspection were to lead to a dispute between your business and HMRC, we can assist with dispute resolution in an effective and timely manner. We help our clients prepare for their VAT inspections by undertaking health checks, attending meetings with HMRC and dealing with queries after the event.