Specialist VAT Advice for Opticians
The VAT People provides specialist advice and support for opticians regarding every aspect of the VAT process. We can help you to ensure you are taking advantage of any reliefs that you may be entitled to, while also making sure you are paying the correct amount.
Our specialist team has years of expertise in this area, and are therefore best placed to offer guidance. We have helped many opticians to navigate the complicated realm of VAT, and are happy to answer any questions you may have.
Contact us by calling our helpline on 0161 477 6600, or fill out an online enquiry form and we will be in touch at a time that is convenient for you.
Services for opticians
The team at The VAT People is experienced in helping opticians to maximise their VAT position, and we offer a number of catered services to help you.
Offer help if you feel as though you are paying too much VAT, or not maximising VAT recovery effectively
Assist through VAT processes, such as completing full cost VAT appointment calculations
Advise on other methods of appointment that may improve your VAT position
Provide initial free phone consultation to identify ways that we may be able to assist, or if it has been a while since you last reviewed your VAT position
- Help new businesses get to grips with VAT obligations and fully understand VAT. For example, we can clarify the services and goods that may not be exempt from VAT
What if I am setting up a new practice?
There can often be a great deal of uncertainty regarding VAT. It is necessary to understand the VAT liability of your supplies, establish the value of your dispensing services and ascertain the proportion of VAT that you can recover on your set-up and operational costs.
At The VAT People, we can review and discuss your business plans with you, offering advice on the VAT matters that need to be addressed at the outset. We can provide guidance on specific matters, such as the purchase of capital equipment, whether to operate the Full Cost Apportionment Method or Separately Disclosed Charging Method, and help you to maximise VAT recovery.
Methods of accounting for VAT
There are a number of methods of accounting for VAT, which have been outlined below.
What is the full cost apportionment method?
Where an optician makes a single charge for the supply of spectacles and dispensing, then they should be apportioning that in accordance with a method that has been agreed with the local VAT business advice centre. This is known as the full cost apportionment method.
This needs to be reviewed at least every three years, or whenever significant changes have taken place within the business. We can assist your business in undertaking full cost apportionment calculations.
What is the separately disclosed charging method?
When an optician makes a separate charge for the spectacles and the dispensing, he or she does not have to perform an appointment of charges for spectacle sales. In such cases, the customer should be able to obtain the supplies separately at the individual specified charges. This can be tricky to navigate, as it is the dispensing services are usually tied with the supply of the spectacles.
HMRC will accept that separate considerations have been established, as long as the charges are stated to all patients at the time of supply.
We can help
Our dedicated team of VAT experts is on hand with support and guidance for opticians. Whether you require advice, assistance or a full-scale consultation, we offer a package to suit your needs.
Contact us today by calling 0161 477 6600 , or fill out an online enquiry form and we will be in touch.
Watch Our Videos
Get the vital information you need quickly and easily by watching one of our guidance videos - topics include VAT assessments and penalties, VAT for charities, and maximising VAT recovery.