Give your business room to manoeuvre with our VAT service
A key opportunity to save yourself time and energy
See how we can help you and your business
Most firms with an annual taxable turnover of more than £85,000 a year have to register for VAT – and it has to be done using approved software, too, under the Government’s Making Tax Digital (MTD) scheme. Failure to comply can lead to both fines and unexpected VAT bills.
Once you’re registered, you’ll need to file regular returns with HMRC. Some people do it monthly, most go for quarterly and a few make an annual return. There are multiple VAT schemes in operation, too, each of which offers certain advantages to different types of business. So, for starters, we’ll advise on all of that and manage the registration process on your behalf, if necessary.
VAT is notoriously complicated – you might even say weird. The VAT rating of individual products and services isn’t always obvious and, in fact, often ends up being decided at VAT tribunals with a panel of judges having philosophical debates over cakes or looking at items of children’s clothing. As accountants, we love all that, and keep a close eye on the latest judgements so our clients can avoid paying unnecessary VAT.
We’re also experts in VAT as it applies to the sale of goods and services to the EU, including digital products such as software and online retail.
When it comes to systems and processes, we’ve developed a smart approach to VAT with Xero and Quickbooks cloud accounting software at its heart. It gives you as much information on your VAT position as you need at any given time – or you can check in with top-level reports and leave the detail to us.
When your VAT returns are ready, we’ll always give you chance to review them before sending them off to HMRC on time, with every detail pinned down and correct.
Our VAT service includes…
- Advice on VAT schemes and VAT ratings
- VAT registration and deregistration
- Processing of VAT returns
- Advice on EU VAT
- Cloud-based recording and reporting