Complying with the wide range of indirect taxes, from VAT to Stamp Duty Land Tax and Excise/Customs duty, often requires quick thinking and immediate action. Mazars provides expert support to help you understand what you need to do to meet your indirect tax obligations.
VAT is an immediate tax. It is transaction driven and kicks in as soon as you take any action. VAT is complex and can impact directly on your bottom line, incurring significant penalties if you get it wrong.
Mazars helps businesses plan for VAT before setting out on a new venture including setting up overseas, buying or selling a property or raising finances. Our experienced team addresses compliance issues proactively to help you avoid penalties, as well as the impact of transactions on other areas of the business like audit and direct tax.
Mazars indirect tax expertise offers advice and support with the following issues across all sectors:
- health check reviews that can identify both VAT risks and opportunities for VAT savings
- international tax and dealing with trading outside the UK
- land /property transaction and option to tax
- expert advice for specific tax solutions
- acquisitions and disposals
- Senior Accounting Officer reviews
- compliance: penalties and interest, returns and payments, registration, reviews and audits
- compliance with HM Revenue and Customs (HMRC) requirements
- negotiating with HMRC
- managing the impact of an indirect tax investigation
- indirect tax investigations, independent reviews and appeals to the Tribunal
In addition to the wide range of services, we also specialise in the following areas.
For detailed analysis and our latest views, please visit Let's Talk Tax
Making Tax Digital for VAT
Making Tax Digital (“MTD”) for VAT came into force on 1 April 2019. As a result of these provisions, it is now mandatory for all VAT registered businesses with a taxable turnover above the registration threshold (currently £85,000) to keep digital records and submit their VAT returns quarterly through HMRC-approved software, using an application programming interface (API).
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