VAT Advice in Kingston upon Thames and the surrounding area

VAT is chargeable on taxable supplies made by taxable persons in the UK. Credit is given for VAT paid to other businesses and the net balance is payable or may be reclaimed - generally on a quarterly basis.

VAT law covers all types of supply of goods or services (outputs), whether of a revenue or capital nature. Supplies include sale, hire, or loan of goods. Outputs normally falls into four categories:

  • Positive rated - taxable at 20% or 5%
  • Zero rated - including socially or economically important items, e.g. exports, most food, books, newspapers, public transport, drugs on prescription, children's clothing
  • Exempt supplies - property transactions generally fall into this category
  • Some receipts are outside the scope of VAT, e.g. dividends, shares of profit compensation for losses, certain non UK supplies

At Alderwick James & Co our professional team of tax advisers offer a wide range of VAT services and can advise on the following:

  • Registering for VAT in the UK and across the EU
  • The various VAT schemes that are available, for example retail schemes and the flat rate scheme
  • Completing VAT returns        
  • VAT investigations
  • Maintaining proper VAT records
  • VAT and partially exempt organisations
  • VAT healthchecks
  • VAT and Charities

Please contact us if you need VAT advice in Kingston upon Thames or the surrounding area.