VAT

Value Added Tax (VAT) is an ongoing obligation for many businesses.
As a business grows and its turnover increases, they will have a requirement to register for VAT and pass on this collected tax to HM Revenue and Customs.
It is imperative for all businesses to get the effective date of registration correct.

Here is how we can help:

• Act as your Agent for VAT purposes and therefore correspond with HM Revenue & Customs on your behalf. In the event of a general compliance check or enquiry we can be on hand and represent your business and take the time consuming and daunting task of face to face meetings with Tax inspectors.
• Prepare your VAT return; either from your own bookkeeping records, which we shall advise and guide you on how to maintain or we can take care of your record keeping for you in a cost and time efficient manner.
• Ensure that the correct amount of VAT that you are entitled to is claimed for especially when it comes to more complex items such as mixed-use expenditure and motor running costs etc.
• Prevent late VAT registration, errors, late VAT returns and late VAT payments, which can all lead to penalties and accruing interest charges.
• Ensure your business has adopted the correct VAT scheme you are eligible for and establish whether you would be better off adopting an alternative scheme as some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
• Monitor your business position and asses when it can benefit from deregistering for VAT.
• If you are facing cash flow difficulties, we can negotiate on your behalf a “Time to pay” payment plan to prevent further or even legal action by HM Revenue & Customs in line with your business performance.

Whether you are looking to set up a new business or have been trading for a number of years, our experienced team can provide the right level of support to give you that peace of mind that you are paying the correct amount of VAT and are compliant at all times.