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Warwickshire & Leicestershire
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VAT
VAT (Value Added Tax) is one of the most complex taxes imposed on business and one that many businesses inadvertently overpay or underpay.
With a constant stream of detailed changes to the regulations, businesses can find it difficult to ensure they comply. Mistakes in calculating VAT can be costly and the rigid system of penalties for late submission of returns and interest charges for mistakes only adds to the burden.
Our experienced team of VAT professionals can provide a cost effective service which will help to keep your VAT affairs in order, making sure you are collecting the right amounts for each transaction and ensuring that you make payments and file returns correctly and on time.
All of this as well as advice on more complex VAT issues such as:
- The pros and cons of voluntary registration
- The timing of compulsory registration e.g. what to do when you exceed VAT registration thresholds.
- De-registration
- Partial exemption
- Cash accounting, annual accounting and flat rate schemes
- VAT on imports and exports
- Margin schemes for 2nd hand goods
- How to deal with enquiries from H M Revenue & Customs
- Online submission
SFB offers the basic quarterly compliance VAT service from £150 + VAT.