Our clients in the education sector include Further Education Colleges, Oxford Colleges and new Universities. We also work with the new academies, UTC and studio schools as well as a number of well known Independant Schools. In the healthcare sector we work with general practitioners including advice on new primary care developments.
Typically, our VAT advisory services include:-
- Routine advisory on compliance issues
- Retrospective reviews to identify VAT incorrectly levied
- Advice on specific development projects to ensure all available relief is obtained
These are provided as an annual support package or on an ad hoc consultancy basis.
Annual Support Package
- Annual check and calculation of your partial exemption/non-business reclaim position including annual capital goods scheme adjustments
- Identification of areas of reclaimable VAT from HM Revenue & Customs on trading activities
- Assistance and comment on your VAT position to provide:
- In person VAT updates relevant to you
- Comment on the VAT angles of expenditure plans and new ventures
- Identification of areas where VAT can be recovered
- Advice through our telephone support line
In addition to our annual support service, we also provide specific consultancy services. The following examples illustrate areas where our specialist VAT planning skills can produce significant savings:
- recovery from suppliers of VAT overpaid, including negotiations with suppliers and their VAT offices and credit control of "VAT debtors"
- capital expenditure planning e.g. sixth form centres, new libraries, sports halls, etc.
- management of ongoing Lennartz calculations
- advice on subsidiaries e.g. when, why and how to use a subsidiary to save VAT
- contracting out, e.g. catering, cleaning, printing and agency staff
- negotiating with the VAT office, contesting assessments
- agreeing new methods of VAT recovery with HMRC
- staff training and updates on VAT accounting
Davies Mayers Tax Advisers produce regular VAT updates - please click to read our latest edition: VAT Update for Education.