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VAT ON SPECIAL TRADES

VAT ON SPECIAL TRADES

Depending on which business you are in; the regulations, requirements, and rates of VAT can change considerably. Many businesses that specialise in certain trades can receive reduced rates, zero rates, and access to certain schemes that can make VAT management easier. There are also a number of ways that special trades can save considerable money on the supply or purchase of goods and services.

Many of the schemes can be entered into voluntarily, as long as the business and services or goods are eligible for the scheme. However, there are also specific conditions that certain businesses and individuals must adhere to pertaining to their specialist services and goods. Knowing where your business stands in terms of special trade VAT is very important.

ACCOUNTANCY SUPPORT FOR VAT ON SPECIAL TRADES

There are so many regulations surrounding special trades, that it can often be difficult for businesses to determine what schemes or changes apply to them, and what is not applicable. As with all areas of VAT, and especially trade specific VAT, it can be incredibly helpful to enlist the aid of a qualified VAT accountant. Not only will you ensure a peace of mind over your business procedures, but you may be able to save considerably on VAT payments.

At The Accountancy Solutions, we help trades get the most from their VAT obligations, assisting special trades, which include:

  • Builders
  • Vehicle Sales
  • Tour Operations
  • Jewelers

Advice for VAT on Special Trades

If you unsure whether you are eligible for VAT schemes or are concerned over VAT regulations, our team are on hand to help. We specialise in all areas of VAT, from import and export, to VAT schemes and exemptions. No matter which trade you’re in, additional support and guidance for your business VAT requirements can be highly beneficial. We will work with you at every stage to ensure your VAT returns are completed fully and on time, as well as reviewing your business to evaluate where you could be saving money.

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