For businesses registered for VAT, submitting accurate and timely VAT returns is a crucial part of staying compliant with HMRC. But navigating the complexities of VAT can be challenging, especially when you’re managing a growing business or dealing with international transactions. At Hardy Accounting, we take the stress out of VAT returns, ensuring everything is calculated correctly and submitted on time so you can focus on what you do best—running your business.
VAT (Value Added Tax) is a tax charged on most goods and services in the UK. If your business is VAT-registered, you’re required to charge VAT on your sales and pay it on your purchases. Every quarter, you’ll need to file a VAT return that shows how much VAT you’ve collected and paid, and then either pay the difference to HMRC or reclaim it.
While the concept is straightforward, the details can be anything but. Different VAT rates, reverse charges, and exemptions can make it tricky to get your calculations right. That’s where we come in.
At Hardy Accounting, we make VAT returns hassle-free. We’ll take care of all the details, from compiling your VAT records to preparing and submitting your return through HMRC’s Making Tax Digital (MTD) system. Whether you’re on the standard VAT scheme, the flat rate scheme, or a more complex setup like the margin scheme, we have the expertise to handle it.
If your business deals with overseas transactions, we’ll ensure compliance with international VAT rules, including reverse charges and EU VAT reporting. We’ll also provide advice on VAT registrations in other countries if needed.
VAT compliance is about more than just avoiding penalties; it’s about optimising your cash flow and ensuring you’re not paying more tax than necessary. Our meticulous approach ensures every claimable expense is accounted for and every detail is accurate. We’ll keep you up to date with changes in VAT legislation, so you’re always ahead of the curve.
With Hardy Accounting, you’ll gain peace of mind knowing your VAT returns are handled by professionals who understand the system inside and out. We’re here to answer your questions, provide clear explanations, and tailor our services to your business.
You must register for VAT if your taxable turnover exceeds the current threshold of £85,000 in any 12-month period. If you’re below the threshold, registration is optional but might benefit your business. We can advise you on the best approach.
Mistakes can happen, but it’s important to correct them quickly. We’ll help identify and rectify errors, minimising any potential penalties or interest from HMRC.
Absolutely. We’ll ensure your VAT returns are submitted digitally using MTD-compliant software, keeping you fully compliant with HMRC’s requirements.
We’re experienced in handling VAT for international businesses, including reverse charges and EU VAT regulations. We’ll make sure your VAT is compliant no matter where you trade.
Most businesses file quarterly, but some may need to file monthly or annually, depending on their VAT scheme. We’ll handle your returns according to your schedule.
