VAT is always on our clients’ radar because it is a turnover tax and not a profits tax, and as such has to be paid whether or not our clients’ businesses are making a profit. Incorrect structuring of a transaction or problems with reclaims can have alarming effects on cashflow or create irrecoverable VAT.
We advise on all areas of VAT, including disputes, and on all the aspects of the financing, construction and operation of large-scale infrastructure projects to minimise irrecoverable or double VAT costs for our clients.
We advise property developers on property acquisitions and lettings, including on options to tax, and our tax disputes team advises companies on disputes with HMRC about VAT reclaims.
Notable deals / highlights
Advised on all VAT aspects of financing, construction and operation of the UK/Belgium Interconnector natural gas pipeline.
Provided VAT and SDLT advice to Oxford University concerning a number of property acquisitions and lettings.
Conducted a successful appeal to the VAT tribunal regarding VAT relief for the importation of gemstones by a charity.