Start-up Company VAT Services
We’ll prepare & submit your VAT return for you
Are you feeling anxious about submitting your VAT return? Perhaps you are afraid of making mistakes or simply do not have enough time to complete it.
Many business owners find preparing and submitting their VAT return daunting. It’s easy to make mistakes and get fined. However, we can help you with that. Remember, you’re not alone.
Angel Bookkeeping and Payroll Services is dedicated to making it easier for you to manage your business finances by handling tasks like payroll, bookkeeping, and start-up company VAT services.
With our team of experts working with you, you can focus on running your business without worrying about missing VAT return deadlines.
Who needs to submit a VAT return?
If business has a taxable turnover of £85,000 or more in any 12-month period, regardless of 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.
If you are not comfortable with submitting your VAT return through MTD, we can assist you with the process. Despite being designed for ease and speed, we understand that it can still be a daunting task.
The advantages of opting for outsourcing when it comes to your VAT return.
Outsourcing your VAT return is a great solution if:
You are concerned about making errors on your VAT return.
It seems that you don’t have enough time to do it by yourself.
It looks like you’re afraid that you might not be able to complete the task on time.
You don’t want to risk being penalised by HMRC.
You prefer to dedicate your time to your business rather than being concerned about your VAT return.
In addition, our experienced team can help you not only with preparing and submitting your VAT return but also save you money using our years of knowledge and expertise.
We will ensure that you do not pay more than necessary by accurately calculating your costs.
» Who can charge VAT?
If a business has a taxable turnover of more than £85,000 (VAT threshold), they are required to become a VAT-registered business and can then charge VAT on the goods and services they provide.
» What is meant by UK VAT?
The UK has a tax called Value Added Tax (VAT) that applies to specific goods and services. Businesses registered for VAT must include the appropriate VAT rate when charging customers, collect the VAT from them, pay it to HMRC, and maintain accurate transaction records.
» Which businesses are VAT exempt?
Certain businesses that offer education services and goods are not required to pay VAT. For instance, education services are exempted from VAT.
- Healthcare and medical services
- Charitable activities
- Overseas sales of goods to non-EU customers
- B2B postal services
- ‘Zero-rated’ goods (such as food, children’s clothes and books) are not exempt but still have a 0% rate of VAT
If you are not certain whether your business needs to be paying VAT or if you would like more information about how Angel Bookkeeping & Payroll Services can assist you with your particular needs, please contact us today.
» Will you require business bank account details as part of the registration process with Angel Bookkeeping?
Yes, we will require details of your business bank account to complete the registration process. You may also be asked to provide additional information, such as financial documents or contact details for your accountant or bookkeeper.
» What is meant by a VAT invoice?
A VAT invoice is a document that businesses issue to customers when they have sold goods or services subject to Value Added Tax. The invoice should state the customer’s name and address, the date of supply, any discounts applied, as well as the amount of VAT payable. It must also include the seller’s VAT registration number.
» What is the Government Gateway Account?
The Government Gateway is an online platform where you register and manage your taxes. When registering for VAT, businesses are required to use the Government Gateway site to complete the registration process and set up their VAT online account. Once the registration process is complete, businesses will have access to their own secure online account, which they can use to submit their VAT returns and paying HMRC as part of the process.
» How do I claim VAT?
To reclaim VAT paid, businesses must include the details of their purchases on their VAT Return and deduct the amount of VAT paid from the total amount due to HMRC. The difference between what is payable and what has been claimed is then paid or refunded by HMRC.