VAT

Are you one of the many business people who dreads completing your VAT return?

We are happy to simply review your records on a monthly/quarterly basis before you submit your VAT return.  If you are on a Cloud based bookkeeping system the review of your VAT return is part of your regular Cloud Review.

Some clients prefer us to do all their bookkeeping in which case they will be sent their VAT return for review prior to submission.

We even have a handful of clients who keep their records in a "non-digital" manner and then ask us to put these into a format compliant with Making Tax Digital (MTD).

Whilst the majority of clients are on quarterly returns, some do have monthly or even annual returns.

We can also advise with regard to the flat rate scheme.

If you are not registered for VAT but your trade is VATable then unless we carry out all your bookkeeping on a monthly basis we are unable to keep track of when you are liable to register for VAT.  Whilst we will advise when preparing annual accounts if you are nearing the limit it is your responsibility to keep track of turnover.

VAT thresholds can be checked on the HMRC website at:  www.gov.uk/vat-registration-thresholds