VAT Returns Services

The accountancy services that offers you expert business advice and support delivered by friendly local teams across the UK.

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Calculating your VAT returns can be tough once you register for VAT, and the additional VAT responsibilities in your bookkeeping records can seem complex. Thankfully, there are ways to simplify your VAT returns and get your VAT affairs in order much faster.

We are an expert team of accountants and tax professionals, forming a specialist VAT team that can assist you with VAT returns and making tax digital.

Our work makes it easier to manage tax after you are registered with HM Revenue and Customs, either as a business or just a regular house owner.

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Why choose us to complete your VAT returns?

We are a London-based, highly experienced team of UK tax advisors with a wide range of major accreditations, all of which relate to our work as a VAT return services business.

We have over ten years of experience helping with tax returns and VAT planning, along with helping companies pay VAT correctly.

Services

With such a range of tax services on offer, all compliant with government guidelines, we have been able to build an outstanding reputation within the industry. Whether you are a humble employee or the owner of a smaller business, our bookkeeping and VAT return services make paying HMRC correctly much easier.

Professionalism

Our free pricing quotes allow us to give you a free overview of what it would cost for us to deal with your accounts. We can serve both individuals and business owners across the whole of England and the wider UK, with our London-based accountants boasting a long list of different skills.

VAT Returns Services

Nationwide Services

Here at TaxBite we offer our services to clients and businesses across the UK. We have numerous headquarters in Scotland, England & Wales.

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If you would like to learn more about the tax services that our professional team can offer, get in touch with us today! We can help you with every step of the process, from the basic paperwork to making the payments during the VAT period.

What is a VAT return?

A VAT return is a calculation of how much you need to pay HMRC, calculated from how much you owe and how much you can reclaim.

What does a VAT return include?

A regular VAT return includes three core details:

Alternate VAT schemes, such as the Flat Rate Scheme, can change how VAT calculations are handled.

Do you need to submit a VAT return?

Evading VAT is a major crime and can have multiple levels of penalties. A VAT-registered UK business needs to submit VAT returns in each VAT period. However, a small limited company or sole traders in England can sometimes process their VAT in yearly schemes.

How do you submit a VAT Return?

Now that the government have been making tax digital by default, VAT registration and submitting can seem complex. We can provide the guidance and right advice to help you send off your VAT, which is usually based on the standard rate of 20% of an item’s value.

Can you do your own VAT returns?

Registration for VAT is straightforward, but non-accountants might struggle to prepare and submit their VAT returns. An incorrect VAT return can get you in serious trouble, and the entire process can be very time-consuming.

Hiring a specialist VAT return service makes everything much simpler – we provide our clients with the best service possible, from assisting with VAT registration to general bookkeeping.

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How much will your VAT returns cost?

A sole trader or self-employed individual sees VAT returns of around £30 to as high as £130. Limited companies push this to well over £1000 a month, increasing as they grow larger and more complex.

To get a fixed quote rather than an average, you can contact our specialist accountants to learn more. Our professional team of advisors can find you an accurate monthly calculation of what your VAT return may be, providing a free consultation as needed.

How is my VAT return worked out?

The calculation for VAT is simple:

(VAT charged on sales) – (VAT you can reclaim as expenses) = your VAT return value

In some cases, this can leave you with a VAT refund, returning more money to you than you spent. This would be money that you are free to use like normal funds.

Why VAT Return is important?

Not working out and submitting your VAT return is a serious offence, and the penalties get worse if you are found guilty of fraud.

VAT is just another part of bookkeeping, but failure to manage it correctly can have multiple charges placed against you, from corruption to money laundering.

A business can suffer serious consequences for not keeping accounts (including the business payroll) in order.

What are the consequences of getting a VAT return wrong?

Businesses defaulting on VAT means having to pay additional surcharges, which can often become quite extreme if you are found to have intentionally handled VAT inaccurately.

Our accounting services can help you avoid this, taking the pressure off you and submitting your VAT payment returns on your behalf.

Surcharges

Surcharges can be applied to your accounts and returns if you do not pay your VAT return by the deadline or if you have only partially paid it.

Penalties

The penalties for missing a tax return or not disclosing the full range of required information can include:

Responsibility for Tax Digital Submissions

VAT return services like ours allow you to put the accounting work of your business in somebody else’s hands.

We provide all of our clients with the bookkeeping and accounting work they need, including helping them register voluntarily for VAT or handle their monthly payments under their VAT number.

Bespoke Work for VAT Registered Businesses

Our services can also help in other areas of business, such as working with your cash flow. We treat each client company (or individual client customers) as an account that we need to take good care of.

Flexibility in Business

We can provide accountant services for payroll work and accountant services for business at the same time or focus our accountant services purely on your VAT. We offer a flexible range of services, with each accountant having a range of financial business skills.

FAQs

What are the VAT return periods?

You need to send your VAT return form to HMRC during every three-month accounting period.
Once you register for VAT, this means that you send off a VAT return every three months, even if you have no active VAT to owe or claim.

What transactions are not subject to VAT?

There are a lot of transactions where VAT is not applied: funerals, healthcare, parking, property, education, statutory fees, hobby sales, charity donations, and many other VAT-exempt purposes.

What are the 3 types of VAT?

There are three ‘easy steps’ to VAT pricing: the 20% standard rate, 5% reduced rate, and 0% rate. 
Most purchases are at 20%, with the 5% rate being kept mostly for products related to children or the elderly.

What is a VAT reverse charge?

A VAT reverse charge involves a customer charging themselves VAT instead of a supplier invoicing them later. This is mostly to prevent missing trader fraud.

Summary

If you need help with your VAT returns as an individual or a business, then get in touch and let us know. We provide a wide range of different accounting services, allowing us to tailor our work to your needs.

Do not hesitate to talk with some of our specialists if you want to know more about what we offer or the kind of work that we can do for you and your accounts.