All non-established businesses operating in the UK must be registered for Value Added Tax, which is the UK’s general sales tax for most goods and services. This is a requirement, irrespective of their turnover. Fiscal representation is the process of appointing an agent or representative to manage the tax affairs of a non-established business within the UK.
UK VAT Representation was set up to help these types of businesses fulfil their VAT obligations in the UK by acting as their nominated local VAT Agent.
Why Appoint A Fiscal Representative?
Unlike many countries in Europe, there is no requirement to appoint a fiscal representative. However we recommend that small to medium sized organisations should consider this as an option for the following practical reasons:
- Following BREXIT the British government has begun to apply changes to its tax laws, including VAT. With no guarantee that any future changes will be aligned to those made in Europe, it will become increasingly more difficult to keep track of those changes and the timing of their implementation.
- Overseas businesses handling their own affairs would need to keep abreast of, and be in compliance with, technical changes such as Making Tax Digital (MTD) which has been rolled out across the UK.
- Many businesses simply do not have the capabilities of keeping up to date with all of the changes in indirect taxation which are taking place in countries outside their own.
UK VAT Representation is not an accountancy firm. Instead we specialise in trade-related issues, offering VAT and customs-related advice to our overseas clients.
Taking this holistic approach, we work to minimise the worst aspects of BREXIT for our clients.
We act proactively to ensure that you are kept fully informed on matters of trade and tax policy, which may have an impact upon your business.
What Do We Do For You?
As your Fiscal Representative, we will:
- Process and file quarterly VAT returns with HMRC using your supplied data.
- Recover VAT owed or pay any VAT due.
- File Intrastat and ECSL returns, as required by law.
- Act as your agent in the UK; handling any enquiries from HMRC and making enquiries to HMRC on your behalf.
- Offer you advice on the most tax-efficient ways to import and sell your products in a third country.
Our particular areas of expertise include advising businesses on the distance selling of goods and services; particularly for start-ups and small enterprises; as well as the importation of goods using delivered duty paid (DDP) incoterms.
For more information about how we can support your business, contact us today to arrange a no-obligation consultation.