VAT Returns Services
Cheadle Hulme, Manchester, Cheshire
If you require VAT Returns Services in Cheadle Hulme, Manchester or Cheshire contact our experts today. Our professional accountant can offer advice for your business.
VAT Accountants and Tax Experts
VAT Planning can sometimes get the best of us all, but here at H. Stone and Co, our specialist team will provide you with the most appropriate VAT scheme for your business.
Our accounting services benefit clients in Greater Manchester and the North West, from sole traders and smaller businesses to larger companies. We will ensure all your VAT returns are completed on time, with the time-consuming bookkeeping being completed as part of our consultancy services.
We have over thirty years of accountancy experience with clients across the UK and VAT services to suit all companies. If you have found yourself paying more VAT than you believe is correct - it's time to act! Our team wants to help as many UK businesses file their returns correctly and save money on their VAT returns.
VAT FOR YOU AND YOUR BUSINESS
We deal with VAT registered businesses and those yet to register, ensuring all VAT advice is provided. There is no compulsory registration until you exceed the VAT taxable turnover threshold of Â£85,000. Most businesses do not register, but a voluntary registration despite your threshold can save you money in certain circumstances. Sole traders are not exempt from this registration if you earn over Â£85,000 in your financial year.
We aim to make your year-end accounts easier and take the stress and pressure off you in our making tax digital phase. This VAT Scheme was established in April 2019 and requires all VAT returns to be completed via HMRC-approved software, which our team are trained in.
Your bookkeeping should be done on a quarterly basis, ensuring you pay VAT at the correct rate. Our team offer the necessary support for your VAT refund, staying on top of paperwork and help you submit VAT returns promptly and correctly to HRMC.
WHAT ARE VAT RETURNS?
VAT tax returns are an important part of bookkeeping records. These involve filling out and submitting income forms to pay HMRC your required tax during your financial year. It is your legal requirement to submit a VAT return on a quarterly basis, or penalties can be enacted. A VAT return is something most businesses will have to become familiar with, as most purchases include a "Value Added Tax".
This calculation documents the amount of due VAT on sales minus the VAT reclaimable on purchases, with HMRC giving you the difference back where there is more reclaimable than sales.
Every three-month accounting period, you should be looking at and submitting the total sales and purchases from your business - which we can assist our customers with.
WHO NEEDS TO SUBMIT VAT RETURNS?
If you are yet to register for VAT as a business, we recommend completing the process, which our company can assist with. The taxable payments threshold is Â£85,000, meaning you must register to pay VAT if you earn over that amount during the accounting year.
There is no threshold for businesses outside of the UK and globally, but you must register when your goods reach the UK. Those that register late will be required to ensure all fees are paid sooner rather than later.
If you are not earning that amount during your financial year, you are not legally required to complete a VAT registration form. However, our team recommend you do, and we will happily discuss this with you over the phone.
Even if your business is below the current UK threshold, there are many benefits to completing the registration. Your business will have a level of authority when you are VAT registered, and you could even reclaim some of the start up costs from the beginning of your company.
Specialist business accountants in Manchester
We are professional and experienced business advisors and accountants who offer specialist consultancy for your business. Our accountancy services happily and efficiently assist VAT registered businesses, providing VAT schemes for all products and services.
Flat Rate Accounting Schemes
Cash Accounting Schemes
Retail Accounting Schemes
Our flat rate accounting scheme is only recommended in unique situations where a business's VAT turnover is Â£150,000 or less. You pay a fixed VAT rate, benefitting some customers' quarterly payments. Our team can discuss the best options for your business to make the four annual VAT return payments as seamless as possible.
We also provide payroll and bookkeeping for your business, filing all documentation correctly and efficiently, saving you time and money in the long run.
Covering the North West of England, we work with businesses of all sizes, some of whom have never submitted a VAT return. If you find that your return shows you more VAT than you can reclaim, you must repay this to HMRC via direct debit or online credit. Including your VAT number on all future invoices is crucial for being a VAT registered business and adding the 20% VAT charges to all invoices. If this seems daunting, you are not alone, and we can assist!
Our full-service accountancy firm provides tailored services to you and your company, whether you're looking for tax enquiry insurance or management accountancy.