VAT registration can be a burden on time you simply can’t afford when you’re running your own business, but our experienced team can put you on the right track.
HMRC now offers a range of schemes available to SMEs to tailor the VAT system, so whether you’re looking for us to take the hassle away completely and complete your VAT return preparation, or if you are looking for the optimum scheme that best suits your business - help is at hand.
We can advise you on whether you need to register for VAT and choose the right scheme for your business. By taking time to select the correct scheme you may potentially save your business two vital commodities - time and money. Once your business has been registered appropriately for VAT, the timing of the VAT period can be tailored to suit your business. It is common practice for VAT quarters to be set to fit in with a business' year end or at important times during the financial cycle. By working with you and HMRC, we can ensure that these dates are locked-down. It is also a possibility that your business can account for VAT on a monthly or annual basis as opposed to the more traditional quarterly basis.
Again, we are able to ensure that the VAT registration is tailored to your individual needs.
In completing VAT return preparation for your business we can ensure that the function is carried out in a timely and professional fashion, but also that the raw data going into the VAT return can be used by us to provide you with proactive advice in connection with the business.
- Our range of VAT services includes:
- Assessing the benefits and disadvantages to your business being VAT registered
- Managing the VAT registration process
- Advising on the various VAT schemes available
- VAT returns preparation
- Dealing with more complex VAT issues and transactions
If you are vat registered you usually submit a VAT Return to HM Revenue and Customs (HMRC) every 3 months. This period of time is known as your ‘accounting period.’
- The VAT Return records things for the accounting period like:
- your total sales and purchases
- the amount of VAT you owe
- the amount of VAT you can reclaim
- what your VAT refund from HMRC is
You must submit a VAT Return even if you have no VAT to pay or reclaim.
12 Months Contract. First payment by card, then direct debit payments for the remainder of the term.