VAT (Only available with Bookkeeping services)
Value added tax is one of the most complex and onerous tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT.
The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of Customs and Excise make it hard to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to!
If you are VAT registered and need your VAT returns completing then I can do these for you.
- VAT control and reconciliation
- VAT returns
Please seek advice from your accountant as to the best VAT Scheme for your requirements. We handle VAT returns, control and reconciliation but we do not advise on other VAT topics.
On line VAT Returns
HM Revenue & Customs (HMRC) is phasing out paper VAT Returns. From April 2010 you may have to submit your VAT Returns online and pay any VAT due electronically (for example by Direct Debit, internet or phone banking etc).
When you must submit your VAT Returns online:
You have to submit your VAT Returns online and pay any VAT due electronically if either of the following applies
- You registered for VAT before 1 April 2010 and had an annual VAT-exclusive turnover of £100,000 or more for the 12 months ended 31 December 2009
- You registered for VAT on or after 1 April 2010 (regardless of your turnover)
In the case of the first group, you must continue to submit all your VAT Returns online (including nil and repayment returns) even if your turnover drops below £100,000 in the future.
From 2012, all remaining VAT-registered businesses – those registered for VAT before 1 April 2010 with a VAT-exclusive turnover of less than £100,000 – will also have to submit VAT Returns online and pay electronically.
Even if you don't yet have to submit online returns and pay electronically, HMRC strongly recommends you sign up to using the online service before 2012. Using the online service saves you time and in most cases gives you extra time to submit your return and pay the VAT due.