VAT Returns

Preparing VAT returns in line with the rules takes up time and brainpower you could be spending on something more profitable. We can look after this for you, from initial calculations to submission of returns to HMRC.

You’ll need to register for VAT and make returns if your turnover is more than £85,000 per year – the VAT threshold. Those returns can be monthly or quarterly. If you don’t submit returns on time you can get hit with both late-filing penalties and interest.

One challenge is knowing the VAT status of the goods or services you provide. Are they standard rated, reduce rated or zero rated? Get it wrong and you could end up either paying too much VAT, making your business less competitive, or not enough – which HMRC doesn’t like at all.

As well as processing your returns, making sure they’re accurate, we can advise on VAT schemes for retail, on the VAT status of specific products and even handle VAT registration and deregistration on your behalf.

• Prepare VAT returns.
• File returns with HMRC.
• Reflect VAT in your books and accounts.
• Handle VAT queries from HMRC.