Veterinary
Accounting & tax
Our veterinary team was established over 30 yeas ago and we have combined sector experience of over 150 years. We can provide accounting and tax services that will meet your practice’s needs.
The difference you’ll find in joining forces with our specialist veterinary team is our in-depth knowledge of the veterinary industry and every type of practice. This understanding of your practice at whatever stage you may be at, means we can help guide you in achieving your personal and business objectives, whilst meeting your legal obligations.
How can we help you?
- Annual accounts
- Partnership tax returns
- Income tax returns
- Corporation tax returns
- VAT returns and management accounts
- Payroll
- Tax planning, including income tax, capital gains tax and inheritance tax.
Case study
Claiming VAT back
Background: A client approached us as they were planning an extension and large refurbishment. The practice was owned by them personally and not owned by the limited company through which the veterinary practice trades (rent is charged to the company for use of the property). The client’s request was to ensure that the project was completed in the most tax-efficient way possible.
How we helped: We helped to ensure costs were allocated between landlord (i.e. the practice owners) and tenant (i.e. the company) in the most tax-efficient way possible. Rent charged by the practice owners to their company was also exempt for VAT purposes, which meant without any changes, VAT would not be reclaimable by the practice owners. With forward planning, we arranged matters so that all VAT could be reclaimed on the expenditure.
The outcome: VAT was reclaimed on the extension and refurbishment costs and the position was made as tax-efficient as possible.
