VAT

We’ll make sense of it all

It doesn’t matter who you are or what you do, VAT can put you in a heap of trouble if you don’t fully understand how it works. HMRC doesn’t care about whether you understand your obligations, though – they only care about getting your quarterly returns. A lot of businesses get into trouble for getting it wrong as a result, or pay more VAT than they needed to.

Rather than going it alone and desperately trying to understand one of the most complex aspects of the tax system, trust our experience and expertise. We’ll handle your returns accurately and efficiently, allowing you to focus your energy on your business. We’ll also provide strategic VAT advice to help you save some money.

All VAT-registered businesses are now required to file their returns via Making Tax Digital-compatible software.

Strategic VAT advice

VAT is charged on goods and services at different rates. Businesses charge customers the VAT, before transferring it to HMRC through a VAT return. In that sense, VAT-registered businesses are tax collectors for the Government. Understanding the various VAT schemes, the ones that would work best for you, and how special rules work (such as the VAT reverse charge), is therefore vital to not overpaying on VAT.

While you must register for VAT when you go over the VAT threshold of £85,000, many of our clients have benefitted from registering early – particularly because of the extra cashflow they get from customers paying VAT. Could it be a good idea for your business? Give us a call and we’ll give you our opinion.