VAT Returns Made Simple and Stress-Free

Accurate VAT Returns, Delivered On Time – Every Time

At Accounted For, we specialise in providing professional and efficient VAT return services to businesses of all sizes.

Whether you’re a small start-up, a growing SME, or an established organisation, our expertise ensures your VAT returns are accurate, submitted on time, and compliant with HMRC’s requirements.

We provide accurate and timely VAT returns, whether it be a flat rate, normal, annual vat return, cash accounting or even for a one-off property project.

We like to complete our returns quickly and normally get them done within 14 days.

Why Choose Us?

We understand that managing customs and VAT can be a challenging and time-consuming task, but our team makes it effortless with:

Tailored Solutions:

• We handle all VAT schemes, including flat rate, normal, annual, and cash accounting, as well as one-off property projects.

Fast Turnaround:

• We aim to complete your VAT returns within 14 days.

Peace of Mind:

• Avoid the stress of HMRC penalties—your returns will always be prepared and submitted on time.

Expert Guidance:

• Unsure about VAT schemes or registration? We’ll guide you every step of the way to optimise your cash flow.

Our Comprehensive VAT Services

Our VAT return services are designed to cater to your unique needs. Here’s what we offer:

VAT Scheme Advice and Selection

Identify and sign up for the most suitable VAT scheme for your business.

VAT Registration

We’ll handle the details and the process of registering your business for VAT.

Bookkeeping and Liability Calculation

With our bookkeeping services, we ensure all sales records are up to date, making VAT calculations seamless.

Training and Tools

Want to take charge of VAT returns yourself?

We provide training and up-to-date software to help you complete VAT returns manually or digitally.

Filing and Submission

Never miss a deadline with our VAT return calculator and accurate filing methods.

We’ll submit details of your returns directly to HMRC.

Penalty-Free VAT Compliance

Prevent fines and errors with correctly prepared and submitted VAT returns.

Already Using Our Monthly Bookkeeping Services?

If you’re already partnered with us for bookkeeping, your VAT returns process will be even easier!

With all the required information readily available, we’ll ensure an ultra-smooth and efficient completion.

Should Your Business Be VAT Registered?

Not sure if your business needs to register for VAT?

Here’s a quick guide to help determine if VAT registration applies to your business.

You must register for VAT if any of the following apply:

• Your business’s taxable turnover has reached £81,000 (within the past 12 months).
• Your taxable turnover is expected to exceed the VAT threshold within the next 30 days.
• You’ve purchased or acquired a business with a turnover exceeding the registration limit.
• You’ve bought goods from another EU country totalling more than the VAT registration limit in one year (correct as of 2014).

You can also voluntarily register for VAT even if you don’t meet the turnover threshold.

Unsure?

We’ll help you weigh the pros and cons of voluntary VAT registration to find the best option for your business.

VAT Registered Businesses:

• Charge VAT on their goods and services
• Claim back VAT paid on business-related purchases
• Submit regular VAT returns to HMRC

Unsure about your VAT registration status or need assistance? We’re here to help.

VAT Payments and Penalties

Paying VAT on time is crucial to avoid penalties from HMRC. Here’s what you need to know about VAT payments and penalties:

• VAT Payment Deadlines: Payments are due by the end of each calendar quarter or month, depending on your business turnover. For monthly returns, payment is due 7 days after the end of the accounting period.
• Late Payment Penalties: If you miss a payment deadline, HMRC will charge you interest on the amount owed until it is paid in full. The interest rate is currently 2.75%.
• Correcting Mistakes: If you make a mistake on your VAT return, it’s important to correct it as soon as possible. HMRC may charge penalties for careless or deliberate errors, but these can be avoided by voluntarily disclosing the mistake and paying any additional VAT owed.
• Flat Rate Scheme: If you are registered under the Flat Rate Scheme, you will not have to pay interest on late payments, but penalties will still apply if you make a mistake on your return.
• Appealing Penalties: If you believe that a penalty has been incorrectly charged, you have the right to appeal. Contact us for expert guidance and assistance in appealing HMRC penalties.

What is Input VAT?

The value-added tax (VAT) paid on goods and services that a business purchases for its own use. This includes everything from raw materials and equipment to office supplies and utility bills. As a VAT-registered business, you are entitled to reclaim this input VAT as long as it relates directly to your business activities.

This can be done by deducting the amount of input VAT paid from the total amount of output VAT (VAT charged on sales) in your VAT return. If there is an excess of input VAT, you can carry it forward to offset against future output VAT or request a refund from HMRC.

What is Output VAT?

The value-added tax (VAT) charged by a business on the goods and services it sells. It is collected from customers and then paid to HMRC in the form of regular VAT returns. As a VAT-registered business, you are required to charge the appropriate rate of output VAT on all taxable sales.

The amount due is calculated by deducting any input VAT paid on related purchases from the total amount of output VAT. This means that you only pay HMRC the difference between what you have charged your customers and what you have already paid for supplies.

Making Tax Digital for VAT:

The UK government has introduced Making Tax Digital (MTD) as a way to submit VAT returns digitally. This means that businesses with a taxable turnover above the VAT threshold are mandated to use MTD-compatible software to keep digital records and submit their returns online.

At Accounted For, we provide MTD-compliant software and training to help you easily transition to digital submission of your VAT returns. Our team will guide you every step of the way to ensure full compliance with HMRC’s requirements.

Additional Services Offered

Aside from our comprehensive VAT services, we also offer a range of additional services to support your business needs:

• Tax Consultancy: Our experienced team provides expert advice on all aspects of taxation, helping you minimise tax liabilities and maximise savings.
• Payroll Services: Keep your employees happy and compliant with our reliable payroll services including payslip production, calculations and submissions to HMRC.
• Company Formation: Starting a new business? We can help with company registration, setting up PAYE and VAT schemes, and more to get your business off the ground.
• Accounting Services: With our in-depth knowledge of accounting principles and software, we offer full-service bookkeeping, account management and financial reporting for your business.

Start Maximising Your Cash Flow Today

We take the hassle out of VAT returns so you can focus on growing your business.

Whether it’s expert guidance, complete compliance, or tailored solutions specific to your industry, we’re here to make your VAT process as simple as turning on the kettle.

Get in Touch with Us Today

Contact us now to speak with a VAT expert and ensure your returns are in the hands of professionals.