Support with VAT and excise duties:
What applies to your business?
VAT can be complicated. There are a number of exceptions and special situations that are handled differently from standard corporate taxation, and it is important to be aware of these. At LR Revision & Redovisning, we help you do things right.
Car regulations are one example. For company cars, you are entitled to deduct VAT on running costs and half of the VAT on leasing fees. However, if you buy a car privately, you are not entitled to any deductions, not even for driving for work purposes.
Another example where it pays to do things right is in connection with advance payments. Normally, it is the date on the invoice that determines the right to deduct VAT. But this does not apply to advance payments, where it is the date of payment that determines this – not the date on the invoice. For example, if you are to pay rent for Q1 in advance, you can deduct the VAT if you pay before the end of December the previous year. If you pay in January, different rules apply to the right to deduct.Â
Imports and exports
Imports and exports are one area where you may need specialist support – not least because of Brexit. If you have an online store, it is important to know how to deal with private and business customers from different countries in order to get your VAT right.
Excise taxes are levied on various types of goods and services, such as chemicals, plastic bags, natural gravel, tobacco, alcohol, energy, etc. New taxes are constantly being introduced, and they also change quite frequently.
It is important to register when you are liable for excise duties. You may also be entitled to a refund in certain cases. In agriculture and forestry in particular, it is important to keep track of the many rules to avoid unpleasant surprises and maximise efficiency.
LR Revision & Redovisning gives you:
- Sound, long-term business advice
- Fast responses on regulatory matters
- Updates regarding Brexit, etc.
- Personal contact
Skilled accounting consultants - a guarantee of quality
Our accounting consultants are experienced, highly skilled and always adhere to the established industry standards for authorised consultants. You can rest assured, knowing that you will receive state-of-the-art support in accordance with effective, quality-assured procedures and applicable laws and regulations.
Authorization via SRF or FAR is further confirmation of the consultant's experience and expertise, and you will find authorized consultants in our collaboration.
Authorised and approved auditors - expertise you can rely on
There are different degrees of skill. You can do a lot yourself and someone with some financial expertise can help you with many tasks. There are also areas requiring authorised or approved expertise. Auditing is one such area.
An authorised and approved auditor meets the requirements of the Auditors Act in terms of education, experience and integrity. Performing work "in accordance with generally accepted auditing standards" entails compliance with a legal standard imposing demands on the planning, staffing and execution of your assignments.
Security and safety for you and your company are central. Engaging LR Revision & Redovisning assures you receive quality-assured support from certified and/or approved auditors.
