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VAT Returns Services
If your yearly turnover exceeds the VAT threshold, you need to VAT register your business with HMRC.
Then, when you become ‘VAT registered’, you have to submit VAT returns to HMRC, each quarter.
MV Chartered Accountants provide you the necessary help with VAT returns. We explain some of the points here.
If you are running a small business with an annual turnover of £150,000 (or less), the Flat Rate Scheme is usually the best way to handle VAT.
As you may have already guessed, you will have to pay a fixed, flat-rate.
This fixed flat-rate is a percentage of your gross turnover, determining how much in VAT you owe HMRC each quarter.
More often than not, business owners are given very little notice of an HMRC inspection.
Needless to say, not doing well in such an inspection can be a huge problem.
However, as long as you have your business records, financials, and paperwork up to date, you have nothing to worry about.
Unsurprisingly, HMRC is more likely to investigate businesses generating high amounts of cash. So, if you run a company in the food, drink, retail or leisure niches, you need to be especially prepared.
This is one of many reasons why hiring an expert accountant is essential.
When professionals handle your VAT tax returns, you increase the chance of having the correct paperwork at the ready when HMRC knock on the door.
One of the services we offer is support with HMRC inspections.
In the unfortunate event, a review escalates into an investigation, we provide everything you need to assist you through this stressful process.
To learn more, get in touch with us today.
Keywords – VAT Returns Services – Help with VAT – Help with VAT Return