VAT can be quite time-consuming for UK businesses due to the extensive paperwork and its inherent complexity. The existence of multiple VAT schemes, each with its advantages and disadvantages, makes it necessary to carefully assess the VAT status of every new product or service.

Making mistakes in handling VAT can have various adverse impacts on your business. Firstly, miscalculations may result in overpaying VAT, adversely affecting your cash flow. Secondly, HMRC imposes substantial penalties for late submissions or inaccurate VAT returns.

Our cost-effective VAT compliance and planning services alleviate this burden. Our team of VAT experts ensures the correct collection of VAT for each transaction, accurate payments to HMRC, and timely and precise filing of returns.

We also provide guidance on voluntary and mandatory VAT registration, deregistration when your turnover falls below the threshold, and flat-rate VAT schemes. In terms of Making Tax Digital for VAT, we guarantee that your business complies with the current regulations regarding digital record-keeping and reporting.

Our comprehensive VAT service includes, but is not limited to:

• Advice on voluntary VAT registration
• Registration and deregistration
• Partial exemption calculations
• Timing of VAT payments for cashflow
• VAT scheme advice
• Import and export VAT
• Support in dealing with HMRC