All businesses are required to keep accurate records for both taxation and VAT (Value Added Tax) purposes. VAT is one of the most complex and onerous tax regimes imposed on business – so complex that many businesses inadvertently overpay or underpay VAT. We will also run a series of tests to see if there is a benefit in employing the Standard Rate or Flat Rate Scheme. We can also offer advise in respect of applying for the Option to Tax scheme, enabling the reclaim of VAT on property purchases, renevations or whether to opt out from such a scheme.
The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of Customs and Excise call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay the Exchequer more than you need to!
The government announced in the last budget that a new VAT rate of 20% will introduced from 1st January 2011, for further advice on this issue contact us during office hours.
HM Revenue & Customs (HMRC) is phasing out paper VAT returns. From April 2010 you may have to submit your VAT returns online and pay any VAT due electronically (for example by Direct Debit, internet or phone banking etc). If you are affected by this, there are things you need to do now.
We provide an efficient cost effective VAT service, which includes:
· Assistance with VAT registration
· Advice on VAT planning and administration
· Use of the most appropriate scheme
· VAT control and reconciliation
· Help with completing VAT returns
· File on line to meet current regulation
· Planning to minimise future problems with Customs and Excise
· Negotiating with Customs and Excise in disputes and representing you at VAT tribunals
If you would like more information or would like to ask us a question then call us on 0161 283 9639.
JT Accountants take every care in making their recommendations and offering advice, any contract is bound between the selected accountant and the client. JT Accountants cannot be held liable for any failure on the part of either of the parties concerned. JT Accountants is a trading name of JT Accountants Limited Company No. 06554865. Registered in England and Wales. Registered Office Flat 1, Sir Matt Busby Way, Old Trafford, Manchester, M16 0QG.