What Are VAT Returns?
VAT (value added tax) is a requirement of any business with an annual turnover over the VAT threshold. Businesses who earn under the threshold have the choice to register for VAT if they wish. Generally, VAT returns are to be submitted 4 times a year. The return will include both the VAT you have charged your customers & the VAT you have incurred. However, due to being VAT registered you are able to claim the VAT you have incurred back as a refund. Returns are now submitted digitally under the making tax digital rule.
How Do You Know If Its Applicable To You?
VAT (value added tax) is a requirement of any business with an annual turnover of more than £85,000 & that aren’t providing VAT exempt goods or services. A business who is VAT exempt for goods & services do not need to be VAT registered. Any business can choose to be VAT registered if they earn under an annual turnover of £85,000, this isn’t mandatory & is done out of choice.
How Can We Help?
VAT is one of the more complicated taxes, so careful attention is required for each VAT return submitted. Our team have an in-depth knowledge of all aspects relating to VAT & are able to maximise your VAT claim to its fullest, ensuring that your VAT bill isn’t a penny over what you should pay. The making tax digital rules make it much more difficult to submit a VAT return, so we will take care of everything for you.
What Do We Do?
We specifically emphasise a complete system reconciliation every VAT return. This requires us to have slightly more paperwork but in return we are able to look at your overall position for year-end taxes. We also are then able to offer suggestions in advance of the year end on ways the you could save tax. Our VAT return service includes;
How Would You Benefit From Our Service & Why Choose Us?
We focus on the standard of the VAT returns so that we can provide you with the best advice for your business, not just annually, but on a quarterly basis too. Our trained Accountants are experienced in claiming the maximum VAT available & offering you advice & suggestions on how to maximise your claim.
Complementary Services
Other services that may be of interest to you include:
Find Out More
To find out more about our VAT service, please get in touch with the team below.
"I have just started up my own business and Alex has been a great help to me"
"Very efficient service, Alex takes care of all your accounting needs, makes our lives much easier and laves more time to run business."
"Alex and the team at Howards Accountants are very proficient and would recommend highly."
"Alex has been my accountant for 2 years now and i have always found him very helpful, efficient and friendly."
"Alex and his team at Howard’s accountants have helped me a great deal over the last 4 years.
He always has time for one to one chats, and his expertise extends further than accounting, so has been great for advice.
I look forward to continuing to grow my businesses alongside Alex, and would (and do) highly recommend him to anyone."
"Impeccable professionalism and excellent customer care and service. Cannot recommend them highly enough."
"Very professional and extremely approachable, would highly recommend."
"Impeccable professionalism and excellent customer care and service. Cannot recommend them highly enough."
"Great, friendly helpful service and very professional!"
"Switched on and approachable… Howards Accountants take the time to explain everything, a quality rarely found these days."