We can help to ensure that you comply with the regulations and that overpayments are not made.
To help you manage this complex area, we provide an efficient, cost-effective VAT service, which includes:
- assistance with VAT registration
- advice on VAT planning and administration
- use of the most appropriate scheme
- VAT control and reconciliation
- help with completing VAT returns
- planning to minimise future problems with HMRC
- negotiating with HMRC in disputes and representing you at VAT tribunals if necessary.
We will start by registering your business for VAT with HMRC, or if you are an existing bookkeeping client outside of VAT, we can monitor your sales income to ensure that when you are close to exceeding VAT thresholds you are notified and registered on time. This eliminates the danger of late registration and possible fines from HMRC. Likewise, we can also help you de-register if your sales fall below the threshold.
A VAT registered business will prepare and file a VAT return at a frequency agreed with HMRC, for most businesses this is 1 month and 7 days after the end of the quarter. You will need to bring in your paperwork for bookkeeping or your own records for the period, which we will analyse and use to calculate VAT due, and file the return before the deadline. We will remind you at the beginning of the month before filing that your VAT return is due to give you plenty of time to organise your paperwork, eliminating the stress of rushing or missing the deadline.
HMRC Investigations and Enquiries
Being the subject of a tax investigation or enquiry by HMRC can be a stressful and worrying experience. We have a wealth of experience in dealing with HMRC investigations, whether they are enquiries into an individual’s Tax Return, more detailed enquiries into a company’s affairs or employer-related investigations into PAYE and P11d compliance. If you are the subject of an investigation, we can provide you with expert help and support.
With the increased risk of such investigations it may be worth considering taking out our annual insurance policy to protect you and your business from unexpected costs; an investigation will undoubtedly result in additional accountancy work being undertaken. The amount of work will depend upon the complexity of the case but the cost could be substantial.