When it comes to one of the UK’s most complex taxes, it has to be Value Added Tax (VAT). Every business that is VAT registered needs to make sure that they have the correct procedures in place to ensure that they do not end up overpaying or underpaying. Our VAT experts will work with you so that you pay the correct amount when it is due. This reduces the risk of getting a penalty.
New businesses need to decide whether or not it is worth registering for VAT. There are many benefits to registering, but there are also some benefits if you do not. We can advise you on the current VAT schemes available so that the correct decision is made for your business. We also guide you on record keeping and completion of returns. We also assist new business in keeping track of their VAT registration threshold as failure to register when it’s required can result in serious penalties charged by HM Revenue & Customs.
When it comes to HMRC, problems with them are very common, and usually nothing to worry about. It is always best to use a tax expert to speak to HMRC though. When a dispute does occur, we can negotiate with the HMRC on your behalf, and also represent you if a VAT tribunal is required.
One complex part of VAT often missed by many businesses is what to do when they trade in Europe and overseas. We have helped many clients handle their VAT affairs who deal with other countries.
For professional help concerning VAT and your business, then call us so we can offer you the right advice.