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VAT was introduced on the 1st April 1973 and was hailed as a tax that would be easy to understand and simple to operate – how times have changed!
VAT registered businesses across the Fylde Coast, Lancashire and the whole north west will bear witness to the way the system has become increasingly complex, supported by a mass of legislation, Orders, Regulations, VAT notices, Tribunal decisions and European Court of Justice rulings.
And to make matters worse there is in place a regime of penalties and interest charges that, while intended to be a deterrent, apply also to innocent errors.
Unfortunately, many Lancashire businesses do not consider VAT until it is too late and sometimes it is not considered at all! In these circumstances ignorance is certainly not bliss – neither is it an excuse (to which the findings of numerous Tribunals will testify)!
A decision made without reference to VAT can have enormous financial consequences and some businesses will, unfortunately, not survive; they will pay the ultimate price for burying their heads in the sand.
Business Support have offered a broad range of VAT services and VAT advice to businesses across Blackpool, the Fylde Coast, Lancashire and the whole north west. From VAT assessments and VAT inspections right through to help with day-to-day VAT problems, if this most complex of taxes is causing you hassle, we can help.
Our VAT services include when and how to become VAT registered; how to prepare a VAT Return; partial exemption calculations; land and property transactions; VAT assessment reviews; deregistration... we could go on, but a look at our Menu of Services will give you a good idea of the VAT services we offer to Fylde Coast businesses.
We are happy to offer VAT support on an ongoing basis (such as by completing monthly, quarterly or annual VAT Returns), but we can also advise on one-off VAT issues and problems such as late registration, correcting significant under- or over-declarations of VAT, appealing against an assessment received following a VAT inspection, or reclaiming the VAT you have incurred in the building of your own house.
Whether you are based in Blackpool, the Fylde, Lancashire or the north west, Business Support are on hand to answer your VAT questions in plain, understandable English. From specific issues to general VAT enquiries, don't hesitate to contact us.
(Image quotation taken from preface to Tolley’s Practical Guide to VAT Planning)