VAT Services

    1. VAT on Property transactions

    When it comes to property transactions, VAT should not become a costly afterthought. It is important to seek VAT advice before you buy, sell, develop or lease a property to avoid any VAT pitfalls.

    The concept of ‘one size fits all’ cannot be applied to VAT on Property transactions. The VAT treatment of a sale or letting of a property depends on the VAT history of the property. We work closely with our clients to provide comprehensive VAT advice that is specific to their particular property related transaction in order to minimise any associated VAT costs.

    We provide VAT on property transaction advice not only to businesses and landlords but also to receivers, liquidators and other professional firms. The services we provide include:

    • Reviewing sales contracts and lease agreements from a VAT perspective and liaising with our client’s solicitors in respect of same.
    • Reviewing and preparing Pre-Contract VAT Enquiries and other VAT property documents that may be required on sale.
    • In connection with the sale of a property we ensure that VAT on the sale is accounted for correctly and provide advice so that no VAT clawbacks arise for the vendor.
    • If our client is acquiring property we ensure that VAT is only paid if correctly due.

    2. Specific Business Transactions

    We advise clients on how to correctly account for VAT on their business transactions. The services we provide include:

    • Advice on Irish and cross border business transactions.
    • Transfer of business.
    • Mergers and acquisitions.
    • Significant agreements with suppliers/customers.
    • Transactions between members of a group.

    3. Revenue Audits

    Our specialist team can assist you in connection with Revenue Audits by conducting a pre-audit review, submission of disclosure if necessary, representation at the audit and corresponding with Revenue.

    4. VAT reviews

    We can perform VAT health checks on your business to determine potential VAT exposures and savings. An error that is continuously repeated in your VAT returns can become very costly as the Revenue can review the previous 4 years.

    As part of our review we would ascertain whether:

    • VAT is accounted for correctly on goods and services received from outside of Ireland.
    • VAT is charged correctly.
    • All allowable purchase VAT is reclaimed
    • VAT is reclaimed only on allowable items
    • Appropriate reliefs are being claimed

    5. VAT compliance

    We can assist you with managing your VAT by providing VAT compliance services e.g. VAT returns, annual VAT Return of Trading Details, Intrastat returns, VIES returns, VAT registration etc.