VAT Returns
VAT Returns completion – Every business supplying taxable goods or services must register for VAT upon the turnover reaching the statutory threshold. You may consider a voluntary vat registration with turnover less the statutory value added tax registration threshold.
Value Added Tax rules can invariably be complex to interpret and regularly being update by the Customs and Excise. With so many Value Added Tax rules to comprehend and follow, it presents itself as a challenge even to a Value Added Tax expert professional in deciding when Value Added Tax should be charged, when VAT may be claimed back and equally at what rate of Value Added Tax. Businesses need to also be aware of when they should get registered for Value Added Tax, as late registration may cost penalty and interest, not to mention the value added tax itself. We strongly advise you to seek expertise from an authoritative source such as ours to save your business from nasty surprises.
There are several VAT schemes available to select from. These are designed to simplify Value Added Tax. The most basic ones include the flat rate VAT scheme, cash accounting and the annual accounting VAT scheme. Selecting the most appropriate Value Added Tax scheme can make the difference between success and failure of a business and crucially it affects your business cash-flow. Selecting a cash-flow friendly VAT scheme relieves you of one of the biggest daily challenges of any business in these financially constrained times.
The right advice on Value Added Tax to enable a business to make the right choices from the outset and on an on-going basis for Value Added Tax registration, VAT schemes, the VAT rate application and claim. It is easy to see how important good VAT advice and Value Added Tax compliance can represent good value for the fee. As your appointed Accountants and Value Added Tax Advisors, we can take away the stress and time consuming exercise of VAT returns completion for your business, whether a sole trader, partnership or limited company.
Our VAT services cover:
- Help with Value Added Tax Registration; voluntary Registration and ensuring within statutory VAT threshold
- Adopting the most appropriate VAT scheme for your business
- Completing VAT returns from your books and records, as part of our accounting services
- Filing VAT return online or help with setting up for filing VAT returns online
- Advice on ad hoc Value Added Tax related queries
- Challenging contentious VAT assessments by Customs and Excise
- Managing a VAT inspection on your behalf for your business
- Conducting a pre-emptive VAT inspection on your business records
- VAT advice on specific queries and Value Added Tax related transactions
VAT is a target of many a controversies, not in the least, pasties, children’s items and government ministers, all getting tangled up in VAT debates and scandals. VAT is also a great revenue earner for the government and is always know to polarise even the best tax experts.
Our Value Added Tax service can be provided as an individual service or may be combined with other tax and accountancy related services as part of an annual package that we can offer as your appointed Accountants and Tax Advisers.
