In recent years, there has been a domestic and global trend of Governments shifting emphasis from direct to indirect taxation. Globally, while corporation tax rates have generally decreased, VAT rates have risen.
What's more, businesses now face complex VAT systems, case law, guidance and legislation. Companies need to comply with thorny VAT rules when entering new markets, stretching out globally or joining international supply chains. Meanwhile, liabilities, errors and assessments can also attract interest and penalties.
The challenges don't end there. More jurisdictions are removing registration thresholds and compelling non-resident businesses to register for local VAT. For example, the EU VAT 2015 changes mean digital services are taxed where they're consumed. At Grant Thornton, we can help you overcome the challenges and take control of indirect tax.
Giving you clear and commercial support
You'll work with a team that helps you manage your global indirect tax risks which, as transactional taxes, can quickly become big liabilities. A large experienced team will support you, focusing on such indirect taxes as UK VAT, international VAT and GST (Goods and Service Tax), and customs duties.
You'll find our approach and advice clear, commercial, pragmatic and practical. Working with us, you'll soon understand your indirect tax position and better manage your tax risk. You'll also seek to improve your cash flow and find efficiencies through better processes, systems and controls. From the start, we'll understand your issues, then identify the best solutions for your needs.
For all these reasons and more, we repeatedly win many nominations and awards including Acquisition International's 'Best International Indirect Tax team and Best VAT team, UK' in 2015.
We offer a wide range of services to support your business, including:
- domestic UK VAT advisory services
- international Indirect Tax advisory services (Global VAT/GST and sales tax)
- VAT registrations and compliance
- correspondence and negotiation with HMRC
- assisting with audits, assessments and voluntary disclosures
- indirect tax risk management, governance and strategy
- indirect tax technology and automation
- international trade and customs duty advisory
- international supply chain reviews
- partial exemption methodologies and solutions for partially exempt businesses
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