Do you know what it means to be VAT registered?
Being registered for VAT is a legal requirement for businesses that exceed certain thresholds based on your taxable turnover within a 12-month period. However, there might be advantages to a business to register for VAT even if your turnover is below this threshold, speak to one of our specialist accountants to find out more.
What you need to be aware of:
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VAT can be charged at different rates
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Penalties for non-compliance can be severe
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There are various schemes such as flat rate and cash accounting
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VAT returns must be submitted to HMRC online
As a business owner, we understand that you would like to focus your time and resources on business strategy and development. Filing your VAT returns on time and accurate is an essential part of any business, so by handing over the burden to a highly-skilled accountant you will soon reap the benefits this can have on your productivity.
​Our team of specialists will be more than happy to discuss accounting procedures and controls to ensure that your records are kept fully up to date with the latest software and statutory regulations.
Resolve offer training sessions with software providers such as QuickBooks, Xero and Dext with the aim of improving efficiency and ultimately making your life easier when it comes to accounting. Book in your free consultation and we can get started on streamlining your processes.