Any business whose turnover is over the current VAT threshold must register for VAT and usually must submit a VAT return every three months, even if there is no VAT to pay or reclaim.
Not all invoices include VAT nor do all invoices have the same percentage VAT.
Also, if a UK business supplies goods and services to a VAT registered customer in another EU company, further information needs to be compiled and sent to HMRC.
Contact us now to find out more about our VAT Returns services.
It is essential that VAT returns are completed carefully, accurately and on time to avoid penalties for late or incorrect returns. VAT returns can be very intricate, and many well-established companies regularly, inadvertently overpay or underpay VAT.
A business’s books need to be fully up to date to carry out a correct VAT return.
If you need to file VAT returns and want to make sure that they are done correctly, leave them in our hands and you can relax knowing that everything will be taken care of and you will only be paying the tax you are obliged to, if any, and no more.
We can assist you with your VAT registration and can act as a VAT agent for filing to HMRC.
HMRC choose businesses for investigations either randomly or because the figures submitted to them do not look correct.
If HMRC select you for a VAT inspection and we are your registered VAT agent we will act on your behalf and take all the necessary action.
Many small businesses can take advantage of Cash Accounting.
In short, Cash Accounting means that you account for your income and outcome when received and paid rather than when invoices are issued.
Cash Accounting is especially helpful for small businesses to aid their cash-flow.
We can help you if you would like to know more information about Cash Accounting and whether it is suitable for your business.
