Industries in which we have VAT Experience

Opticians

Opticians supply both goods subject to 17.5% VAT and services which are exempt from VAT.

Each business (and perhaps each shop) must operate 2 seperate complex calculations to determine how much VAT it must pay on its sales and how much VAT in can claim on it purchases.

These calculations must be agreed with HM Revenue & Customs.

Mobile Phones & Computer Chips

Dealers in mobile phones and/or computer chips, whether as wholesalers, retailers or commodity-style dealers, are subject to incredibly close scrutiny from HM Revenue & Customs due to the incredibly high levels of fraud within the industry.

If someone within the supply chain fails to account for VAT then HM Revenue & Customs can refuse to pay an input VAT claim to any other dealer within that chain.

Insurance & Finance

Insurance and financial services, and those of their brokers, are in the main exempt from VAT. VAT on associated costs is generally an irrecoverable cost. Good planning can minimise this cost.

Casinos

Casinos have both taxable and exempt activities and are required to apportion the VAT on some of their purchases between these two income types. The differing ratios of expense to income make it difficult to determine how this apportionment should be carried out.

VATease has experience of negotiating Partial Exemption Special Methods for Casinos with HM Revenue & Customs

Dog & Horse Racing Tracks

Race Tracks are another industry that needs to formulate and agree with HM Revenue & Customs Special Methods for recovering input VAT on "non-attributable" or "pot" purchases.

Performers & Entertainers

The international nature of performers services mean it can often be difficult to determine if and where VAT must be paid. VATease expertise can help resolve these uncertainties.