VAT can become complicated as your business grows, particularly when different VAT rules apply to your industry or transactions. We help with VAT registration, VAT return preparation and submission, VAT planning and ongoing advice to make sure your business remains compliant. Our team can also advise on areas such as the Domestic Reverse Charge, import VAT and other VAT matters relevant to your business.
For growing businesses where the VAT position is no longer simple, including construction and cross-border trade.
Registered at the right time, on the scheme that suits the trade.
Prepared from reconciled records and filed under Making Tax Digital.
Construction invoices and returns treated correctly on both sides.
Postponed VAT statements downloaded, matched and claimed once.
VAT registration is compulsory once your taxable turnover passes the threshold, but the scheme you choose and the basis you file on both affect your cash flow.
We handle registration, choose the scheme that suits how you actually trade, and file every return through Making Tax Digital compatible software.
Most VAT problems come from a handful of areas: the domestic reverse charge in construction, import VAT and postponed VAT accounting, partial exemption, and supplies that are zero-rated or exempt rather than standard-rated.
These are the areas we spend the most time on, because they are where the assessments and penalties tend to come from.
A short call about how vat returns is handled today and what is causing friction.
Records, deadlines and handover organised, including professional clearance from your current accountant if you are switching.
Work finished ahead of deadlines, figures explained in plain English, and one specialist who answers.
Registration is required once taxable turnover in any rolling twelve-month period passes the VAT threshold, or if you expect to pass it within the next 30 days. Voluntary registration is also possible and sometimes worthwhile.
In construction, the reverse charge moves responsibility for VAT from the supplier to the customer for certain services between VAT-registered businesses within the Construction Industry Scheme. The invoice and the return both need to reflect it.
Yes, but it is accounted for on the VAT return rather than paid at the border. The monthly PVA statement needs to be downloaded and reconciled to your records so the figures agree.
Speak to our Harrow accountants today. Tell us how vat returns works in your business now, and we will tell you how we would run it.