VAT is a potentially complex area for many businesses. Very small businesses need not register although it can often be an advantage for them to do so. Our aim is to make it as simple as possible for you to handle and understand.  VAT registered businesses have to add VAT to their sales invoices and pay this over quarterly to HMRC although after the deduction of VAT suffered on its costs and expenses. Smaller businesses can make these calculations on a ‘cash received and paid’ basis rather than ‘invoice raised and received’ basis. They can also apply annual accounting or use the ‘flat rate’ scheme.

 

The extent of our support will vary according to a client’s preference to operate VAT independently; our support can include:

• Assistance with VAT registration, including whether to work on the cash basis and/or apply to use the flat rate scheme.
• Advice on how to maintain your records
• Assistance with the quarterly Returns and their filing
• Assisting where there might be technical issues surrounding whether VAT is chargeable etc., e.g. exports