Chart Accountancy can work with you to ensure your records are compliant and your VAT position tax efficient. We can keep you up to date with current VAT legislation and assist you with all your VAT related matters – from registering your business, the selection of the most appropriate VAT scheme, advice on record keeping to preparing and filing your VAT Returns.
VAT rules are covering a wide area and can be complex. At Chart Accountancy, we will take care of all the complex issues and can assist you with all your VAT preparation. We can also provide VAT health check when necessary to ensure that the maximum amount of VAT is recovered and your records are compliant. We can assist and advise in each of these areas:
VAT registration and de-registration
Advice on suitable VAT scheme for your business
VAT returns preparation and submissions
Assistance with VAT queries
Help with HMRC VAT enquiries
Online accounting software to maintain compliant VAT records
If you have just started in business or have a relatively low turnover, you may not be required to register for VAT. HMRC set a limit for a business's annual taxable turnover. If your business's taxable turnover exceeds the limit you must register your business for VAT. Once you have registered for VAT you will need to maintain VAT records - details of the VAT you have been charged on purchases and the VAT on your sale you have charged to your customers.