We understand that VAT often seems like a burden; the statement of being an “unpaid tax collector” is frequently heard. Although the government have tried to lessen the burden on small and medium sized business’s it still remains that calculating it correctly and delivering the VAT Returns on time takes you a considerable amount of time.
We work with clients to help them prepare and submit their VAT Returns, and this can be in conjunction with the book-keeping service.
Accounting Wise can also help you choose the right VAT scheme for your business – this decision alone could substantially improve your cash flow and potentially save hundreds of pounds in the amount actually paid to HMRC.
If your turnover is more than the current VAT threshold then you may have to register for VAT. If this is the case then you will have to complete and submit a VAT return to HMRC, usually each quarter.
However, even if you are not required to register it can sometimes be beneficial to register voluntarily. Deciding whether you have to or should register can be confusing but don’t worry, help is at hand. We can talk this through with you and ensure that you receive the best advice possible based on your circumstances.
The VAT return can be relatively simplistic or can be very complex depending on your business. Additionally, VAT offers various schemes that you can take advantage of. Therefore, we would recommend outsourcing the completion of your VAT returns and obtaining advice about VAT from professionals.
Benefits of using Accounting Wise
Some of the benefits of using Accounting Wise to mange and submit your VAT return are:
Peace of mind
By using professionals you know that your calculation and VAT return will be correct and accurate.
You are less likely to be investigated by HMRC if you use an adviser, as HMRC have ways of knowing if figures submitted on a return are likely to be incorrect. This is a common trigger for a tax investigation.
In most cases it will take you a lot longer to complete your VAT return than it would for an adviser. This time could be better spent running your business.
Claiming everything you’re entitled to claim
It is a very rare occasion that we take on a new client and are not able to find areas to reduce their VAT bill. This is usually in the form of being on the wrong VAT scheme. Most business owners are not aware of all the different types of VAT Schemes that there are and what one best suits their business.
Another benefit of asking Accounting Wise to complete your VAT return is that we will act on your behalf should HMRC decide to investigate your VAT affairs.
HMRC can launch an investigation into your VAT affairs either at random or because figures you have submitted to them do not look correct. They also conduct VAT inspections more frequently for industries that are more likely to to submit inaccurate returns or for industries that tend to have complex VAT affairs. Click here to find out more about the VAT inspection process works.
With Accounting Wise managing your VAT return calculations and submissions you will have peace of mind and confidence in your figures.
Reviews from google.com
They always looks after myself & my wife when it comes to tax time of the year. Highly recommend!
We have been using Accounting Wise since May 2016 and cannot fault attention to detail. Vending Sense Group Limited would recommend his services to anyone looking for a professional Accountant.
I have been using Accounting Wise for the last few years now they have helped me stay on top of my accounts, I now have a simple process which saves me hours of personal time all thanks to there expertise and friendly effortless service. Highly recommend
I have been using Accounting Wise for the past 3 years and have nothing but positive feedback. Ian is contactable at all hours and responds in a very fast manor. He takes time out to answer any queries and is very approachable and professional. Highly recommend!
You can feel safe in the knowledge that we are experts in our field.
Our accountants have a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm, and a HMRC registered Agent.
Not ready for any of our full packages? Then Join Bit Wise for Free!
30% Discount Off QuickBooks 10% Discount Off Xero Business Guides Tax Calculators Tax Calendars & Allowances
Accounting Wise is a trading style of Accounting Wise Ltd, a limited company registered in England under company number 09365202. Our registered office is: The Carriages, Station Road, Ware, SG12 9PL UK.
Content is for general information only. Always take advice.