Cloud Based VAT Services
We will take care of preparing and submitting your VAT return for you.
Are you feeling anxious about submitting your VAT return? Perhaps you’re worried about making mistakes or don’t have enough time to do it?
Many business owners find preparing and submitting their VAT return intimidating due to the numerous rules and regulations to remember. It is crucial to get it right as you may be fined. However, our service can provide you with the necessary assistance. Remember, you’re not alone.
We provide bookkeeping, payroll, and cloud based VAT services. to help you manage your business finances without any stress. Choose Angel Bookkeeping and Payroll Services for a hassle-free experience.
If you have our team of experts working with you, you won’t have to worry about missing VAT return deadlines anymore. You can focus on running your business and not lose sleep over it.
Who is required to file a VAT return?
If your business generates a taxable turnover of £85,000 or more within a 12 month period, whether you are a sole trader, partnership, or limited company, you are required to register for VAT and submit a return.
It is also now compulsory for all VAT-registered businesses to submit their returns online via HMRC’s Making Tax Digital (MTD) system.
Although MTD has been designed to make submitting your VAT return easier and faster, you still might not relish the idea. If so, we can do it for you.
The benefits of outsourcing your VAT return
Outsourcing your VAT return is a great solution if:
You’re worried about messing up your VAT return
You haven’t got time to do it yourself
You’re scared of missing the deadline
You don’t want to risk being penalised by HMRC
You want to spend your time focussing on your business – not worrying about your VAT return
In addition, our team’s experience and expertise allow us to not only relieve you of the time and stress of handling your own VAT return but also to save you money.
Because by accurately calculating your costs, we’ll ensure you don’t pay a penny more than you have to.
» Where do I find my VAT registration number?
Your VAT registration number can be found on the HMRC letter that you received when registering for VAT. It is 9 characters long and typically starts with 90, 91 or 94.
If you don’t have this letter, then your VAT registration number should appear on all invoices and receipts that your company/UK businesses have issued since being registered for VAT.
» What is cloud accounting software?
Cloud accounting software enables you to access your business accounts from any device, anywhere. It is very helpful for keeping track of expenditure and income, preparing necessary documents for tax filing, or creating invoices.
» Can I still keep my existing accounting system for past accounting records?
Yes, you can still keep your existing accounting system for past records. However, it is always best to move over to a cloud-based software as this will help simplify the process of filing taxes and give you more accurate results. Plus, you’ll be able to access your accounts from any device, anytime.
» What is meant by making tax digital for VAT records?
Making Tax Digital (MTD) for VAT is an initiative from HMRC to make it easier for businesses to file their taxes accurately and on time. MTD requires all VAT-registered businesses to keep digital records and submit their VAT returns using compatible software.
» What is processed using VAT data?
VAT data is used to calculate the amount of VAT your business owes or is due a refund, and to ensure compliance with HMRC’s requirements. It also helps you keep track of sales made within the UK and abroad, as well as cross-border transactions and imports/exports.
This data can be used to identify any areas where your business could benefit from VAT relief or participation in a VAT scheme. Lastly, it can help you to prepare detailed reports that demonstrate your business’s financial performance as well as its compliance with tax regulations.
» Is there any free mtd software?
Yes, but the amount of time it takes to learn the system and ensure accuracy of information may be more than most small businesses are willing or able to commit. That’s where we come in. Angel Bookkeeping & Payroll Services will take care of all your MTD needs, so you don’t have to worry about a thing.
» What is meant by VAT rules?
VAT rules determine what qualifies as a valid input or output for VAT purposes and how to calculate the correct amount of VAT due on each transaction. These rules are complex and regularly updated, so staying on top of them can be difficult. That’s why it’s important to have an expert like Angel Bookkeeping & Payroll Services handling your VAT return and keeping you up to date with all the latest developments.
» What is meant by VAT submission?
VAT submission is the process of sending your VAT return to HMRC. This must be done by the due date in order to avoid any penalties or additional charges. At Angel Bookkeeping & Payroll Services, we can take care of this for you quickly and efficiently, so you don’t have to worry about it.
» What is meant by VAT history?
VAT history is a record of all your past VAT returns that includes details of how much was paid and when. It’s important to keep this up to date in order to ensure compliance with current VAT regulations and identify any areas where you could be missing out on savings.