VAT Advisory | KPMG | IM

VAT Advisory

VAT Advisory

Our VAT team has a breadth of expertise on both local and international issues and we can provide specific VAT advice to businesses.

Our VAT team has a breadth of expertise on both local and international issues and we...

Our VAT team has a breadth of expertise on both local and international issues and we can provide specific VAT advice to businesses, across a range of industry sectors. Services we offer include:

  • VAT planning and structuring - this includes providing assistance to ensure a maximum recovery of input tax, particularly for financial services businesses operating a partial exemption input tax recovery method. 
  • Dealing with VAT investigations – liaising with HM Revenue & Customs/ Isle of Man Customs & Excise to provide documents requested, responses to queries raised and assistance with mitigating any resulting VAT liability, penalties or interest due. 
  • Pre-transactional rulings – seeking a ruling from the VAT authorities in advance of a transaction to ensure the correct VAT treatment is applied. 
  • Land and property related matters – advising on the VAT implications of developing, acquiring, disposing of and letting commercial, residential or other property including recovery of input tax on development costs, exercising “an option to tax" and transfers of a going concern. 
  • International and financial services- advice on the place of supply, reverse charges and partial exemption methods. 
  • Yacht planning – advice on acquiring a yacht in the most VAT efficient manner and structuring the chartering business to ensure it falls within the passenger transport provisions where possible. 
  • E-business – we provide a range of VAT advisory services to online business sectors including egaming/gambling, software, telecoms, data, fintech and biomed business. These services include commenting on corporate structuring, place of supply matters, VAT recovery and compliance.

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