VAT
Our VAT services range from advice and guidance to filing your VAT returns with “making tax digital” (MTD) compliance.
VAT Registration
You must register if your total VAT taxable turnover for the last 12 months was over £85,000. You are also required to keep digital records in order to comply with MTD.
However, it may be advantageous for you to register before hitting this threshold. Similarly, you may already be registered for VAT and are unsure whether to de-register.
There are also numerous VAT schemes that you may be eligible for that you are not taking advantage of.
We can offer you tailored advice and guidance to suit your needs and will handle any paperwork necessary for HMRC.
VAT filing and submission to HMRC
If you process your bookkeeping in-house but want some peace of mind that the VAT figures you are filing to HMRC are correct, then we can offer this to you. We can diligently check your records before submitting the figures to HMRC.
As part of our bookkeeping package, we include VAT compliance and submission to HMRC as standard.
If you would like us to take responsibility for either the bookkeeping or review of your VAT figures, then we will ensure that we send you timely reminders in order to avoid any late filing and/or payment penalties and prevent you from wasting your hard-earnt income.
Brexit
VAT can be a complex area of your day-to-day business transactions. Now that the United Kingdom has withdrawn from the European Union, this has only complicated matters further.
In particular, the way in which sales and purchases of goods have changed. We are able to offer advice to you on how you can account for this. Unfortunately, there is more than one way to do this. We can make sure that you are registered with a system that suits your needs and reduces your workload.
Tip:
the new Postponed VAT Accounting (PVA) system has been implemented since Brexit to ease the administration for you. Signing up with PVA means that you will not be required to physically pay VAT on the import of goods.
Need help with your VAT?
We would be delighted to advise and assist you with your VAT, so please do contact us.