VAT

How to keep pace with the rising complexity and growing obligations of VAT legislation

Choose the right partner,ease the burden

What is VAT?

VAT is a type of tax that is added to most goods and services sold by VAT-registered businesses in the UK. Not every business will need to register for VAT, but it is a legal requirement for any companies with a turnover of more than £90,000. The standard rate of VAT in the UK is 20%, with reduced rates for some goods and services.

Staying on top of VAT requires tight control over your transactional reporting and constant supervision of evolving regulatory commitments.

Our VAT team is larger than many mid-tier firms and our breadth of experience reflects the variety of clients we work for. On any given day, we might advise on an international sporting event, a multi-million-pound heritage restoration or the acquisition of a property portfolio.

Of course, we can set you up for VAT, get you registered and complete your VAT return – but most of what we do is advisory. Clients come to us and stay with us due to our skills at demystifying VAT and simplifying your situation. Put simply, we understand what you do and how you do it.

More insights
Our VAT services

We offer a comprehensive range of VAT services across sectors including Social Purpose, Hospitality, Financial Services, Property and Real Estate, Retail, Media and Technology. Our services include:

  • VAT reviews to identify risk areas or reclaim opportunities
  • VAT registration process
  • Guidance on latest legislation
  • Dealing with HMRC enquiries
  • VAT return service
  • Preparing and reviewing partial exemption calculations
  • Structuring advice to ensure efficient VAT recovery
  • Training

Our thorough understanding of your business’ goals, needs and operations helps us to solve your VAT problems and futureproof your finances. We also provide other tax services to ensure your company is prepared and compliant across the board, from business tax to employment tax.

VAT Calculator for UK Businesses

While there is no official VAT calculator in the UK, there are many resources you can use to understand more about how much you might expect to pay, such as:

We understand that VAT can be complicated, time-consuming and confusing at times, which is why our VAT returns service will take care of everything for you, from calculating how much tax you need to pay, to liaising with HMRC on your behalf.

Why HaysMac?

Find the silver linings to VAT with experts who are analytical yet personable

Our approach is to adopt a rational, objective response to all situations, whether there is an urgent query that needs to be resolved immediately or a client is in discussions with HMRC. Clients can often feel exposed in either situation given the complexity of VAT law but find our technical knowledge and practical application of the law to our clients’ situation delivers both successful results and confidence in our advice.

Not sure what you need?

Our clients choose us because we understand their business. We offer intelligent solutions based on decades of experience within their sector and market, unlocking potential and avoiding pitfalls. We know the challenges and opportunities our clients face, often before they do, as proven trusted advisors within their industry.From navigating VAT compliance in the Private Equity sector to common tax traps in hospitality, we’re here for our clients through it all.

Services

Phil Salmon

Partner, Co-Head of VAT

Dougie Todd

Dougie Todd

Partner, Co-Head of VAT

Ramzan Khan

Senior Manager

Stephen Patey

Director

Key contacts

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