VAT returns, worked out and filed.

What we do each quarter

At the end of each VAT period we take your records, work out the VAT on your sales and the VAT you can reclaim on purchases, and prepare the return. Then a person checks it — looking for unusual figures, missing invoices and VAT you're entitled to reclaim but haven't. Once you've approved it, we file it through MTD-compatible software and send you the payment details.

Deadlines

VAT returns and payments are usually due 1 month and 7 days after the end of your VAT period. If you pay by Direct Debit, HMRC collects a few days after that. Late returns and payments can attract penalty points and interest, so we work to your deadline from the day the quarter ends.

Choosing the right VAT scheme

• Standard accounting — you account for VAT on invoices issued and received.
• Cash accounting — you account for VAT when you're actually paid and when you pay suppliers. Helpful for cash flow if customers pay slowly.
• Flat rate scheme — you pay a fixed percentage of turnover and generally can't reclaim VAT on purchases. Simpler, and sometimes cheaper, for businesses with low costs.
• Annual accounting — one return a year, with advance payments through the year.

Which one suits you depends on your margins, your customers and your costs. We'll compare them using your real numbers.

Registering for VAT

You must register when your VAT-taxable turnover over the previous 12 months goes over the registration threshold, or if you expect it to within the next 30 days. We watch your turnover so you don't miss it, handle the registration, and set up your software and invoices correctly from day one.