VAT and duty

VAT and duty

How we can help you manage VAT and Duty

We are an experienced team of VAT and Duty specialists, that provide clear advice and solutions to our clients’ indirect tax issues.

We have significant practical experience of advising a broad range of entities. These include owner managed businesses, large multinational corporates, entities with international supply issues, charities and other not-for-profit entities, colleges and schools, property groups and high net wealth individuals with investments.

Kreston Reeves is one of the largest accountancy firms practising in the South East of England with over 500 staff based in London, Kent and Sussex. Membership of Kreston International, one of the largest worldwide networks of accountants and business advisers ensures that the firm has a truly global reach.

Our services include:

International VAT

We are part of the VAT ‘Special Interest Group’ within the Kreston International Network of independent accountants and business advisers. The Group consists of 60+ VAT specialists located all around the globe.

We advise on compliance matters and effective structuring, manage EU-wide supply projects, achieve registrations in applicable countries and complete VAT returns and other statistical declaration obligations for our clients.

VAT consultancy services

We can assist you in advising on specific transactions or we can undertake reviews of your business to understand the issues you may have, or opportunities where more VAT than appropriate is paid.

We provide clear, innovative and commercial solutions to issues and help in implementing changes to your VAT system, or in making disclosures and submissions to HMRC as appropriate. We believe in understanding your business in long term relationships in order to offer the very best service.

VAT registration and de-registration

Our team can assist with the application process for registration, VAT grouping and de-registration and advise on the implications of such action in order that potential pitfalls are identified.

Negotiations with HMRC

We have years of experience in successfully handling disputes between HMRC and businesses, including seeking ‘clearances’, decision reviews, appealing surcharges and appeals through Tribunals.

VAT recovery

We undertake UK and international VAT recovery claims.

Duty advice and claims

We advise on the correct Duty payable on import, and undertake reviews given that the classification of goods in order to pay the right Duty is often a challenge. In conjunction with our reviews we submit and manage claims to HMRC for overpaid Duty.

Training

We are experienced in providing general VAT training, or in developing bespoke VAT training events for clients in sectors such as charities/not-for-profit.

Sector expertise

  • Land and property – acquisition, disposal, going concerns and development (including charitable, residential, conversions and mixed schemes)
  • International – goods and services – trading in the EU and worldwide
  • Charities, not-for-profit including CICs
  • Education – colleges, independent schools and academies
  • VAT partial recovery methods – devising and agreeing with HMRC Partial Exemption Special Methods and business/non-business methods (particularly in charities, education, finance, insurance, health, sports and ecclesiastical sectors)
  • Farming
  • Manufacturing
  • Media services, conferences and exhibitions
  • Travel and transport services
  • Retail

Specialist advice on all indirect taxes

We also offer specialist advice on all indirect taxes including:

  • Excise Duty
  • Insurance Premium Tax
  • Air Passenger Duty
  • Aggregate Tax
  • Landfill Tax
  • Climate Change Levy
  • Stamp Duty

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The support of Kreston Reeves’ VAT Team has proved invaluable in keeping our business on the right side of very complicated VAT legislation. After a full compliance review, issues with... More HM Revenue & Customs were resolved promptly, accounting processes were explained clearly and a VAT claim was repaid with the minimum of fuss. I would highly recommend the Kreston Reeves VAT Team to any business seeking guidance and reassurance about their VAT and other tax matters. Alan Firmin Limited

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Rupert Moyle was a delight to work with. We were facing some very complex VAT issues and Rupert used his considerable experience to guide and support us to a very... More satisfactory conclusion. He has the ability to condense difficult challenges into something non-specialists can relate to and I would highly recommend Kreston Reeves. Marcel Jenkins, Finance & Operations Director, Studio Wayne McGregor

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Kreston Reeves have been our accountants and auditors from the outset, and have just completed the first full audit of the company’s accounts and those of its parent companies. This... More work has been led by Alison Jones, with the assistance of other members of the team especially Katy Long. Kreston Reeves have also been responsible for the preparation of the group’s VAT returns and tax computations, and have provided payroll services and general accounting and financial systems advice. Until we were in a position to take it inhouse they also prepared the company’s management accounts. Throughout the relationship the work has been carried on with professional efficiency. Practical assistance and advice has always been available when needed. I have especially been impressed by the care taken in planning our first audit so that it has been completed on time despite intervening difficulties. When problems have arisen pragmatic solutions have been found. Their advice in relation to audit issues and the responsibilities of directors has been clear and always helpful. The result is that a process which I approached with some trepidation has proved not to be nearly as stressful as I feared. I would recommend Alison and her team without reservation. Dick Russell, Director, I-360 Limited

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Greg Mayne and his team have consistently exceeded our expectations…I trust Kreston Reeves to provide exceptionally well informed advice not just on VAT recovery but on a range of technical... More VAT issues too. Financial Controller, MSC Cruises

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Kreston Reeves has supported us at Royal Museums Greenwich with VAT assistance for some years now. Our services are diverse as are the VAT and other tax consequences that can arise,... More such as for admissions, membership, patrons schemes and capital projects. Whenever it gets complicated and we need a specialist to explain clearly the effect of an issue and to arrive at a sensible solution Rupert and his team are there to help. Lisa Sian, Finance Manager, National Maritime Museum

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Kreston Reeves have served as the Guild's financial advisers and have carried out the annual examinations of the Guild's company and charity accounts since 2013.The examinations of the... More Guild's accounts have always been carried out most diligently and professionally, by experienced accountants, working to timetables that suit the Board of Directors of the Company and the Trustees of the Guild's Charity. Of particular note is that the experts at Kreston Reeves LLP are always ready to give timely and accurate advice and guidance on all financial matters, including accounting procedures, Corporation Tax, VAT, PAYE and Gift Aid, to ensure that uncertainties are resolved as they arise.In addition to being totally reliable as auditors and highly responsive as advisers, Kreston Reeves also run an invaluable series of most informative seminars and study periods, at no cost to their clients, which provide excellent and very welcome opportunities for Company directors and Charity trustees to keep up to date with changes to the law or to financial practices. Michael Kuen, The Clerk, The Guild of Freeman of the City of London

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I have always found the Kreston Reeves team to be helpful and flexible, rigorous with access to top-class specialists and the most up-to-date information on Charity accounts. Our accounts are... More complicated, despite our relatively small size - two companies, fee income, grant income, multicurrency, VAT, onward granting - so there is plenty to grapple with. The Kreston Reeves team is on top of all the issues that face an international charity like ours. Julie Saunders, Executive Director, Pepal

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Kreston Reeves has been a true partner to Virtuo. Being able to quickly understand our business has meant that Michael and his team have been able to contribute to our... More business from day one. They helped us to set up in the UK with invaluable support and business advice on VAT, payroll and company pensions that ensured we met all the UK regulations. They are now our virtual finance team in the UK and provide us with ongoing support and advice as we grow our business. Michael Altom, General Manager for UK & Ireland, Virtuo

How we can help

To discuss how we can help you in managing VAT, Duty and other indirect taxes, please contact us to arrange to speak with one of our specialists.

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