OUR VAT TEAM
HOW WE CAN SUPPORT YOU
Our specialist team understands VAT, a notoriously complicated tax governed by rules that can appear opaque to even the most confident commentator on tax matters. The UK’s departure from the EU in January 2021 has added another layer of VAT-related difficulty, particularly for those making international supplies.
We advise accountancy and professional firms, businesses and individuals with assets (property, jets, art, etc ) to help them navigate the complexities and opportunities thrown up by this awkward tax.
From small start-ups to global multinationals, we support client of all kinds with care, consideration and considerable expertise.
Our experience means we can help you deal with all VAT-related issues including:
• Construction work
• Reorganisations and business sales
• Cross-border trade
• Property sales and purchases
• Aircraft/yachts
• Tribunal appeals
• Financial services
• VAT planning
• Registering for VAT
• HMRC investigations
• Hotels, residential and serviced accommodation
• Reliefs and mitigating VAT penalties.
OUR CREDENTIALS
SOME EXAMPLES OF OUR VAT WORK…
We have a vast amount of experience. Some recent examples that give an idea of the level of work we regularly undertake are:
• Advised a construction firm with a £220m project which had not realised that a single specific step had to be taken even before the construction work began. The result was that £44m of VAT was chargeable, which the client was unable to pay at the time. We entered lengthy negotiations with HMRC and, after securing a change to HMRC’s policy, we removed the VAT charge for our client with HMRC’s agreement and their project could proceed.
• We’ve worked with clients as they challenge decisions by the tax authorities that just weren’t correct. This ranges from responses to letters, to full meetings with HMRC, to appeals before a judge. In 2024, we won an important appeal.
• Supported the import of an oil rig into the UK. Transport costs alone were over Euro 1 million.
• Assisted a UK PLC ($10 billion worldwide capitalisation) with its cross-border supplies, including successfully resolving HMRC investigations and reducing its UK VAT liabilities. The saving in UK VAT has been millions of pounds each year.
• We steered a client away from a significant VAT bill on a £30m property development project and into a safe position. We acted under high time pressure, but our advice enabled the project to proceed on time.
• Advised an individual who purchased a $50m aircraft, securing VAT as zero on the purchase and on regular costs such as fuel, maintenance and hangarage. The solution has been publicly approved by HMRC.
LARGE SCALE
OUR CREDENTIALS
SOME EXAMPLES OF OUR VAT WORK…
We have a vast amount of experience. Some recent examples that give an idea of the level of work we regularly undertake are:
• We routinely support property developers to understand Options to Tax and how to balance the risks in exercising them.
• VAT registrations can throw up confusing questions and we help our clients through the process.
• We’ve helped a pub-restaurant accused by HMRC of not reporting all their takings for VAT. A review of the records revealed what was going on and why the HMRC officer had reached the erroneous conclusion. We were able to explain everything to HMRC who accepted the position, saving the client £170k.
• Businesses using the VAT margin scheme to trade in secondhand items, works of art, antiques or collectibles have been hard hit by the Brexit changes. This affects businesses with all levels of turnover, who trade with the EU or Northern Ireland. There are some solutions and we have successfully advised many businesses who have been able to adapt and save their enterprises.
• We supported a client whom HMRC was pursuing for £106k for failing to register for VAT, a tax bill we eliminated by determining the appropriate defence, approaching the appropriate HMRC team, using appropriate terminology.
• Online trading has increasingly become the target of antiavoidance VAT rules over the years. While this is necessary, it has meant higher and higher burdens. We supported an online platform in its evolution to address these new rules and take on itself the pressures faced by the online traders using its platform.
• We operate a helpline where businesses and their advisers can have a quick exploratory discussion with an experienced VAT specialist.
• Wright Hassall assisted the government to provide post-Brexit VAT advice to numerous small and medium sized enterprises throughout the West Midlands, from those below the VAT registration limit to multi-million pound international businesses.
Kevin Hall
Partner, VAT
T: 01926 884623
M: 07718 185726
E: kevin.hall@wrighthassall.co.uk
W: www.wrighthassall.co.uk/people/kevin-hall Let’s connect on LinkedIn!
the QR code or find me
