VAT

VAT Services (Value Added Tax) & Returns

Accountants Online will help you find out if you need to register for VAT. We can help you get registered and monitor your situation in case you fall within or outside the set VAT threshold.

We can provide you with full VAT assistance from the Flat Rate VAT scheme to Standard VAT accounting.

VAT returns need to be submitted monthly, quarterly or annually. by having us control your VAT returns you will have peace of mind that they will be submitted on time and will adhere to HMRC guidelines to avoid any penalties.

VAT Flat Rate Scheme

The VAT Flat Rate Scheme is a simplified method for businesses to calculate and pay Value Added Tax (VAT) to HMRC. By applying a flat rate percentage to their total VAT-inclusive turnover, businesses can avoid the hassle of tracking and recording VAT on each individual sale or purchase. However, it's important to evaluate whether this scheme is the most beneficial option for your specific circumstances.

Annual Accounting Scheme

The Annual Accounting for Value Added Tax (VAT) scheme simplifies the VAT obligations by allowing businesses to submit a single annual VAT return instead of quarterly returns.

Businesses under this scheme make a set monthly payment based on the estimated annual turnover.

This scheme can also help with cash flow management and reduce the administrative burden.

VAT Cash Accounting

VAT cash accounting is a method of accounting for Value Added Tax (VAT) based on when payments are received from customers or made to suppliers, rather than when invoices are issued or received.

This approach can benefit businesses by aligning VAT payments more closely with their cash flow, providing potential cash flow advantages, especially for businesses with delayed customer payments.