Why do businesses need to submit a VAT Return?
All VAT registered businesses are required to submit a VAT return legally. With regards to VAT registration, if the turnover of a business exceeds a particular threshold, they are required to register for VAT compulsorily. However, it could be advantageous for you sometimes to register your business voluntarily. That, in turn is a matter of circumstances that need to be analysed by one of our experts in order to ascertain if VAT registration could be of benefit to you.
Completion & Filing-How does it work?
If your business is comparatively simple, or if you are using book keeping software in house, it may well be suitable for you to file a return yourself. However, tax legislation could be complex, therefore, we would not push you to try and do anything that you are slightly unsure about.
We start off by reviewing and analysing your bookkeeping in order to spot any errors, which is followed by their rectification before the VAT return is finalised and filed to HMRC.
We ensure that you are paying the correct amount of tax and that all VAT for your business is being reclaimed in the most efficient manner.
We also carry out regular reviews over your business to suggest switch to suitable VAT schemes as and when appropriate. This is based on a detailed analysis considering advantages such as improved cash flow etc.
Once a senior member of staff has reviewed your VAT return, we send the VAT return to you for approval along with any recommendations which is followed by any amendments (if necessary), before filing it with the HMRC.
We assist you in hard times….
In the unlikely event of being investigated, we represent you to HMRC, on your behalf. You may be chosen by HMRC randomly, because your VAT return may not look accurate or because your business falls in to an industry that is relatively complex when it comes to tax matters.
Whatever the reason may be, we are more than willing to deal with the above in order to give you as much peace of mind and confidence as possible.
we are more than happy to do all that for you in a competitive package ..to get a quote….