Almost any business with revenues exceeding £79,000 in the previous 12 months must register for VAT. Most VAT registered businesses must submit quarterly VAT returns.
We can take away the headache and stress of preparing VAT returns.
We understand exactly what must be declared on the VAT returns, what VAT must be paid over and what VAT can be reclaimed. Many small business owners do their own VAT returns without a full understanding of this and this often leads to problems of mis-declared VAT.
We make sure this doesn’t happen to our clients.
HMRC can and do impose automatic late filing and late payment penalties.
From 1 April 2012 ALL VAT returns must be made online. We have software that does this automatically for our clients.
If you want to prepare your own VAT Returns we carry out a several checks for errors as part of our accounts preparation service each year.
We also offer a more in-depth VAT health check to all our clients.