Gerry Myton leads our indirect taxation team and specialises in not only VAT, but also duty matters. He began his career with Her Majesty’s Customs and Excise, the precursor to HMRC, before moving into positions within UK Top 40 accountancy firms.
We asked Gerry to share his career highlights, how he stays up to date with the latest VAT news, and the best advice he ever received!
How would you describe your role in three words?
Demist VAT fog.
Favourite thing about your role?
Winning arguments with HMRC.
What is your career highlight?
Submitting a VAT claim to HMRC at 6:46am on a Friday morning and agreeing by 2pm the same day a £2.2m repayment including interest.
What area do you currently specialise in? Tell us what your work involves.
Primarily VAT but also duty matters. My work involves primarily providing advice with an element of problem solving that can lead to litigation.
Tell us about some of the top trends you have been following in the past year – is there something that businesses should be aware of?
The pandemic has significantly increased the deficit which will result in increased taxation. The Conservatives have long favoured indirect taxation over direct. The emergency budget of June 1979 increased VAT from 8% to 15% then in 1991 it went to 17.5% and has been 20% since January 2011. HMRC need to collect more money and VAT is an efficient tax to collect.
What is one piece of advice you would give to clients at the moment?
Keep on top of VAT as it is a turnover tax not a tax on profits!
What are your goals for your area of the business over the next 12 months?
Growth combined with the personal development of junior members of the team.
What is the best piece of advice you have ever received?
You cannot forward a telephone call.
Outside of work, what would you be doing?
It will definitely involve rugby union, walking the dog at strange hours of the day, music from the late 70s/early 80s and running Gerry Cabs, a bespoke service for my wife/daughters!
Get in touch with Gerry for any queries or if there is anything we can do to support you and your own circumstances.