Our approach

Globally, we are seeing an increased move towards taxing consumption and indirect taxes have become the most commonly adopted form of taxation in recent times. Our dedicated VAT team at KPMG in the Crown Dependencies are industry specialists and can provide a range of VAT services. We can review the current tax position of your business and provide relevant VAT advice and planning on a range of indirect taxes, as well as all aspects of the compliance required for indirect tax. In conjunction with other KPMG member firms internationally, we can implement multi-jurisdictional reviews or cross border strategies.

The potential benefits to your business are substantial cost savings, improved administrative efficiency and hassle-free compliance.

How we can support you

By leveraging our team of tax professionals, outstanding relationships with tax authorities and our international network’s collective knowledge, our dedicated VAT team can work to help you achieve the best possible benefits for your business, including substantial cost savings, improved administrative efficiency and hassle-free compliance.

Connect with us today to understand how our team can support your business, whether through our VAT advisory or compliance services.

VAT Advisory
VAT Compliance

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, across a range of industry sectors.

Our services 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.
Aircraft planning – advice on acquiring a aircraft 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.

VAT Compliance

VAT can represent a key factor in a business’s cash flow and potentially a real bottom line cost. For finance and tax directors, managing VAT risk and its cash flow implications can be a significant challenge which is often compounded by constantly evolving case law, legislation and tax authority guidance. Poor compliance and errors can result in penalties, damaged reputation and/or missed opportunities.

We provide the following VAT compliance services:

VAT registration – completion of the required documentation to register (or de-register) your business, company, partnership or group for VAT.
Completion of VAT returns – completion of monthly or quarterly VAT returns (based on information provided by you) and submission of those VAT returns to HM Revenue & Customs or Isle of Man Customs & Excise.
Completion of other documentary requirements – completion and submission of any other documentation required by HM Revenue & Customs/ Isle of Man Customs & Excise such as the land and property questionnaire, option to tax, transfer of a going concern and voluntary disclosure.
Dealing with routine enquiries – responding to routine enquiries raised by HM Revenue & Customs or Isle of Man Customs & Excise.
VAT inspections – we can assist in handling VAT inspections performed by HM Revenue & Customs or Isle of Man Customs & Excise.
VAT audit - we can perform a VAT audit on your business if you require assurance or are expecting a visit from HMRC or Customs and Excise.