Our team has the skills and expertise to ensure your business is compliant across an array of indirect taxes – not just VAT.
Insurance Premium Tax (IPT), Customs duties and Air Passenger Duty (APD) are among our specialisms. We will help ensure you account for these taxes correctly. Our service will ensure you meet your compliance requirements by registering for the appropriate taxes with HMRC when required to do so and completing and submitting the necessary returns and assisting with HMRC reviews and inspections.
IPT
Customs duties
APD
Landfill tax
PPT
IPT
Our Indirect Tax team provides a comprehensive global IPT management service tailored to the needs of those insurers required to collect, report and account for IPT. Working with the PKF Global network, we will advise you on all aspects of IPT (including parafiscal taxes), providing practical solutions to complex IPT issues. We will act as a single contact point, reducing costs and minimising the scope for error. Our support includes data checking, insurance classification and review, preparing and filing IPT returns and dealing with queries raised by tax authorities, including negotiating with them to minimise interest and penalties.
If you register and file IPT returns you may also need to appoint an agent, or even a Fiscal Representative requiring Power of Attorney and bank guarantees.
Customs duties
Our team can advise on the Customs implications of the import and export of goods and ensure you are compliant and enabling you to undertake cross border transactions. We will advise on the classification of goods, applications for binding tariff decisions, and any reliefs such as duty deferment to improve cashflow.
A number of changes will be coming into force post Brexit on 1 January 2021, including the introduction of the new UK Global Tariff to replace current Customs duty rates. Our team will be on hand to guide and support your business through these changes.
APD
Businesses that operate flights from UK airports must complete APD returns, often requiring substantial payments to the tax authorities with tight deadlines. Our indirect tax team has extensive experience in this sector. We can register companies for APD, prepare and submit APD returns, assist with HMRC inspections and queries, advise on applicable APD exemptions, and deal with voluntary disclosures to HMRC. When APD rates change our team is on hand to notify you of this promptly.
We can also act as administrative representative for your overseas business operations, to ensure they are APD compliant in the UK.
Landfill tax
For businesses which operate landfill sites we can advise on the impact of the tax on their disposals of waste and on any associated exemptions and compliance obligations. We can also help you ensure your systems are compliant and that the risks of compliance errors are minimised.
The introduction of the UK Plastic Packaging Tax (PPT) last year has caused significant issues for businesses importing or manufacturing plastic packaging or making a ‘significant modification’ (as defined by HMRC) to plastic packaging within the UK part of the supply chain. As a relatively new tax, businesses have faced difficultly in identifying whether they are liable to PPT; managing PPT exposure and complying with the requirements. Under the PPT provisions, businesses can also potentially have joint liability for non-compliance with other businesses in the supply chain.
Our team can review your business’ PPT position, including analysing whether a requirement to register for PPT exists. We can also work with you to review the best methods for calculating your business’ PPT liability, with the aim of putting in place a methodology and processes for reducing the administrative burden of PPT filings as well as minimising the PPT exposure.
Other jurisdictions internationally such as Spain and Italy have also recently introduced local plastic taxes, and it is anticipated other countries will do so in the coming years. Working in conjunction with the PKF Global network, we are able to advise on any overseas plastic tax obligations and undertake the necessary returns on your behalf.
