VAT RETURNS

Making Tax Digital (MTD) for VAT requires ALL VAT-registered businesses to keep records digitally and submit their VAT Returns using MTD software.

As a business owner operating in the UK, you are responsible for your company’s VAT return which is due every 3 months. Once you’re registered you will have to use the VAT return to show how much VAT you’ve charged on your sales, minus the amount deductible on your purchases. The resulting balance is to be remitted to HMRC or claimed by you if it’s a negative sum.

Just like bookkeeping, preparing VAT returns is something most of our clients considered exhausting before joining us. This complex tax regime along with the frequent changes to the regulations and requirements of the HM Revenue & Customs often leads to businesses overpaying or underpaying VAT.

This calls for a professional VAT return service to make sure the demands and deadlines of HMRC are met and that you will only pay or collect what is fairly due. Our tax accountants will be happy to help you with sound VAT planning and timely preparation and submission. We’ll even deal with HMRC disputes on your behalf.

Most often your VAT return will be prepared as part of creating your statutory accounts, this allows us to provide you with quarterly updates and filling can take place quickly and efficiently. If needed, we can also offer you with VAT returns independently of statutory accounts service.