Vat specialist advice for small businesses
Vat can be be complex for small businesses. As this is a broad field and specialist advice is need to make an informed decision.What to claim as input vat and what type of scheme you will select are some of the common questions.
We ensure that you have enough information to Make an informed decision and understand the complexities.
VAT is a complex tax and HMRC threaten penalties for any errors; let us guide you through the maze of regulations. We work with you to ensure that you understand VAT and its impact on your transactions, assisting with:
- VAT registrations
- Consultancy advice
- International vat rules
- Completing VAT returns on your behalf.
International vat is an area where most small businesses need advice. Cross border transanctions between the EU and outside the EU have different treatments. With Amazon FBA small businesses now expanding , the place of supply is an important factor on the vat treatment. The place of supply is different for Goods and services and also treatment to businesses and consumers. There is also distance selling rules which can impact you significantly if you cross the threshold. The types of scheme such as the flat rate scheme have been impacted by the limit cost trader rule. This has now made businesses use the 16.5% with 1% percent discount in the first year.
Zero rated, Standard rates and exempt
It can be difficult to identify the vat treatment for products and services. This can also impact whether you can claim the input vat or not. GM professional Accountants are vat specialists and provide a wide range of services on vat. We provide comprehensive information, this ensures that you are comfortable and In control of your business.
Call GM professional Accountants today on 0208 396 6128
Our offices are located in London, Essex and Manchester.