VAT Returns Service

How A&T Financial Services Simplifies Your VAT Return Process

If your business isn't currently VAT registered, we'll assess the relevant VAT schemes applicable to your business and discuss the benefits of each with you before proceeding to register your business for VAT.
For most small businesses managing their own bookkeeping using compliant software under "Making Tax Digital," we provide guidance on invoicing VAT and identifying eligible expenses for VAT reclamation.
At the end of each quarter or relevant accounting period, we'll ensure your accounting software is up-to-date and that all transactions are accurately recorded and reconciled. Opting for our bookkeeping services allows us to handle invoicing and reconciliations for you, while also identifying any additional transactions or expenses that need accounting for.
We meticulously review your accounts, seeking opportunities to minimize your VAT liability, before electronically submitting your VAT return to HMRC. We'll inform you of the total VAT bill owed and the corresponding payment deadline.
Most clients prefer HMRC to collect VAT via direct debit, although alternative payment methods like bank transfers are available. Should you require assistance with any correspondence from HMRC, including VAT inspections, we're here to represent you every step of the way, providing peace of mind and efficient resolution.

Let us take the stress out of your VAT returns

If you'd like to find out more about our VAT return services or need VAT advice, please don't hesitate to get in touch

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What is a VAT return?

A VAT return is a periodic report that VAT-registered businesses must submit to HMRC. Essentially, it involves calculating the VAT charged on sales to customers and subtracting the VAT reclaimable on eligible business expenses.

In summary, your VAT return provides a calculation of the net amount of VAT owed to or reclaimable from HMRC based on your business transactions during the reporting period.

Deadline for VAT Returns

The deadline for submitting VAT returns is typically every quarter, with filing and payment due 1 month and 7 days after the end of each quarter.

For businesses opting to submit VAT returns annually, the deadline is 2 months after the end of the VAT year, which may differ from the accounting year.

It's crucial to adhere to these deadlines to avoid penalties and interest charges from HMRC for late submissions or payments. Utilizing our VAT return service can help you stay compliant, manage deadlines, and accurately fulfill your obligations to HMRC.

What does VAT Apply to?

Not all services, products or customers you invoice will have VAT charges levied. Similarly, some of your business costs and expenses may be exempt or zero-rated for VAT.

We can help guide you, and when it’s time to file, we can ensure that you don’t overpay (or underpay) the amount you owe to HMRC.

If your business is based in the UK, and you meet the VAT threshold then it is highly likely that all services your company sells will need to have VAT levied.

Please get in contact with one of our VAT accountants to confirm your specific requirements.

VAT charges that you need to levy for businesses and individuals outside of the UK varies. Please read our VAT on International Transactions resource to read up on the latest guidance.

Do I Need to Register for VAT?

VAT registration falls into two categories: compulsory and voluntary.

Compulsory Registration: If your company's VAT taxable turnover exceeds £90,000, VAT registration is required by law.
Voluntary Registration: You may choose to register for VAT even if your turnover is below £90,000.

Voluntary registration can offer several benefits, such as reclaiming VAT on eligible business purchases. Additionally, some businesses choose to register for VAT preemptively. This approach might be useful if your projected taxable turnover is expected to exceed £90,000 within the next 30 days or if you want to incorporate VAT into pricing and accounting processes in advance.

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