VAT Returns South West
Whether you’re submitting your first VAT return, or you’re an established business looking for a new accountant. We provide a streamlined service with great attention to customer care. Get your VAT returns in accurately and on time with our professional accounting.
VAT Returns and Accountancy
VAT returns are a complex area of your business finances, with shifting rules and regulations that make getting into a routine difficult without expert knowledge. They’re also frequent, meaning they require lots of additional admin which eats into your time for focusing on business operations.
At Savage Accountancy, we have the experience in providing a quality VAT return service for sole traders, partnerships, and limited companies, all across the UK. Our accounting team helps you keep your VAT under control, offering advice covering flat rate VAT schemes, VAT control visits, and more.
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Handle compulsory and voluntary registration
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Maximise benefits from de-registration
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Manage partial exemptions
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Timing and delayed VAT payments
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Import and export VAT
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Making Tax Digital for VAT
It’s completely refreshing to work with the team at Savage Accountancy. At our initial meeting, Leon and his team took time to understand our business model and began to apply their expertise to it immediately. They’re quick, responsive, and proactive. Highly recommended!
Expert VAT Advice for Businesses
Mistakes or late submissions with your VAT returns can result in substantial penalties. We work to ensure accurate VAT returns that are always delivered on time. Not only does this reduce the amount of time you need to spend on your business admin, but it also takes away the stress and costs that come with it saving you time and money while improving your accounting processes.
Throughout the process we provide consistent, clear communication on what’s expected of you and what’s going on with your VAT returns so you’re always in the loop on where you need to be. We also offer a comprehensive suite of accounting services, from bookkeeping to tax returns and payroll, providing everything you need from an accountancy to ensure your business runs smoothly.
VAT Return FAQs
How do I file a VAT return?
If you are VAT registered, you will typically be required to send a VAT return to HMRC every three months, a period known as your ‘accounting period’. You will need to submit a VAT return whether or not you have VAT to pay or reclaim.
Filing for a VAT return is a complex process involving many different aspects of your account. While you can submit a VAT return yourself, many businesses find it better to work with a reputable accountant who can apply their expertise to streamline and expedite the process, providing a complete overview of your accounts and producing an accurate VAT return without any stress on your behalf.
What are the new rules on VAT returns?
Since January 2023, there has been a points-based penalty system for late VAT returns. This can result in increased costs or other penalties to your business, not to mention the stress this sort of rigorous assessment can cause. Working with a trusted accountant can help you avoid these penalties entirely, ensuring every VAT return is submitted with the right information, at the right time.
What items are outside the scope on a VAT return?
- Wages
- Salaries
- PAYE
- National Insurance contributions
- Money you withdraw from the business
- Loans
- Dividends
- Monetary gifts
- Insurance claims
- MOT certificates
- Vehicle duty
To get a full overview of what information and financial details are required for your VAT return, you can work with your accountant.
What can I claim on my VAT return?
You can only claim VAT back on goods and services that are exclusively used for your business. This can include:
- Supplies
- IT equipment
- Motoring costs (fuel, public transport, etc)
- Business travel
You can also claim back partial refunds on goods used both by your business and otherwise, such as home broadband if you’re a sole trader operating out of your home. You can work with your accountant to get a better overview of what qualifies for your VAT return.
Begin Your Journey to Better Business Accounting
Whatever the scale of your organisation, we have the resources and expertise needed to take your business accounting to the next level. Get in touch today to get started.
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