If you’re just starting out, we can help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all the paperwork for you.
In contrast, we will also monitor your position for when we think you are able to and would benefit from de-registering.
Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
Unlike many Accountancy firms we do not push our clients to use any particular software; in fact we have many clients that still insist on doing their book keeping in the old traditional way of actually keeping a book.
Where necessary we either manually enter client data into the database for clients that have little use of technology, or we extract the data from the client’s software, or we request bank downloads and copies of both sales and expense invoices to reconcile against their bank feed.
Ultimately, we use the lowest common denominator in any software package, which is a database of information extracted to a spreadsheet. So no matter how you keep your data, we can help you with the bookkeeping, the analysis and reconciliation, as well as the VAT calculations. Our Making Tax Digital (MTD) compliant software will take the calculations and transmit them to HMRC.
As well as handling your VAT calculations and submissions, we’ll also act on your behalf if HMRC decide to investigate your affairs. We’ll be fighting your corner, helping you to win your case.
We work methodically, where our VAT team would contact you via email &/or phone a month before your submission was due, asking for the data for the quarter. We would then calculate your liability, and after approval, we would make the submission to HMRC in accordance with MTD legislation that came into effect from 1st April 2019.