Desktop Banner

Mobile Banner

Cash flow savings ideas for VAT

Having survived the cash flow impact of restrictions on trade during the pandemic, businesses are now facing further financial pressure from the withdrawal of coronavirus-related government support schemes. Meanwhile, the cost of living crisis, caused by a combination of high inflation outstripping wage increases and soaring energy costs, means that many customers will be looking to cut down on the goods and services they buy.

In this difficult environment, cash flow savings may be more valuable to business than ever. With this in mind, here are some ideas for how you can reorder your VAT strategy to optimise cash flow in your organisation.

It is also important to ensure online systems are working well so that staff, customers and other stakeholders have the information they need to meet compliance requirements and plan proactively. The trading climate is sure to keep evolving in the coming months and years, so businesses should always ensure their VAT planning and strategy is kept flexible and revisited regularly to make sure it remains effective.

For more information, please get in touch with Ian Carpenter, Philip Munn or your usual RSM contact.

authors:ian-carpenter,authors:philip-munn