If you wish to import from the EU…
VAT (value-added tax) is collected on a product at every stage of its production, during which value is added to it, from its initial production to the point of sale. The amount of VAT that the user pays is based on the cost of the product, less any costs of materials used in the product that has already been taxed at a previous stage.
VAT is an indirect tax that rises in direct proportion to the rate of consumption. It’s an incremental tax placed on every product and service at each stage of its life cycle, from manufacturing to distribution to sale. It can be filed monthly or quarterly.
Lanop’s team of highly qualified experts do year-round VAT reporting and prepare returns on your behalf. We will submit it online using MTD-compliant software. Our accounting software, tax experts and dedicated client managers are exactly what you need to stay compliant with HMRC’s Making Tax Digital regulations. Once you have chosen the suitable VAT scheme, we will guide you through the registration process in real-time and advise you on how to switch if you plan to move to a more tax-efficient scheme.
Our skilled tax and finance professionals work diligently to make your life simpler by reducing financial stress and making business models more lucrative and efficient in accordance with up-to-date regulations.