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CVC has many clients who operate in the third sector. Our clients cover a diverse and interesting range of activities and include national bodies working in the UK and overseas plus local organisations helping their own communities. We give our clients a balanced view when approaching their VAT affairs, we recognise that VAT has to be considered against other responsibilities, and aim to give a fresh and innovative service to our clients without jeopardising existing relationships. Some of the areas we can help with include: - Considering opportunities to register for VAT on a voluntary basis for those organisations which are not VAT registered, could this be beneficial? Is there a legal requirement to be VAT registered?
- Reviewing existing VAT recovery methods in place. Some of these may have been formally agreed by HMRC and others evolved over time. Are these being performed correctly and at the right time?
- Ensuring that our clients take advantage of charity VAT reliefs and those generally available to ensure VAT is not incurred unnecessarily.
- Transactional issues and identifying VAT liabilities. Examples can include if an agreement entered into is a contract to supply services or merely a grant?
- Reviewing VAT liabilities. Are exemptions applied being operated correctly? Is there an opportunity to take advantage of concessionary treatment?
- Reconsidering the attribution of VAT incurred, is this being carried out in accordance with any method agreed with HMRC.
- Capital projects and the recovery of associated VAT costs.
- VAT reviews and health checks which may identify opportunities and offer comfort.
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