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Ever changing regulations and growing demands of HMRC mean that VAT compliance can be a difficult and time-consuming administrative process, distracting you from running your business.
We can assist you to ensure that you comply with the regulations and have time to do what you do best – drive your business forward.
To help you manage this complex area, we provide an efficient, cost effective VAT service which includes.
- VAT registration
- Advice on VAT planning and administration
- Completing and submitting VAT returns online
- Advice on use of the most tax efficient VAT scheme for your business
Require more information about VAT?
If you would like more information or would like to speak to us direct then call us on 01782 744144 or ask a question online.
Building relationships,
driving success.
VAT news and articles
Updated VAT road fuel scale charges from 1 May 2024
From 1 May 2024, the VAT road fuel scale charges will be updated. The new rates will need to be used from the start of the next VAT accounting period that begins on or after 1 May. So, if your next VAT quarter starts on 1 June, you will begin using the new rates for the quarter that begins on 1 June.
Could the VAT Annual Accounting Scheme be good for your business?
VAT-registered businesses normally submit their VAT returns and payments to HM Revenue and Customs 4 times a year. However, HM Revenue and Customs also offer an Annual Accounting Scheme for businesses with a taxable turnover of £1.35 million or less.
Spring Budget – VAT registration threshold increases
The thresholds for VAT registration and deregistration have remained static for the last 7 years, however an increase in the thresholds was announced in the Spring Budget. The new registration threshold is now £90,000, increased from £85,000. The deregistration threshold
New VAT penalty regime for late returns and late payment
A new, and arguably fairer, system for determining penalties for late returns and late payment of VAT applies to return periods commencing on or after 1 January 2023. The same system will also apply to the returns to be submitted under making tax digital for income tax, when it eventually starts!
VAT Rates in the Leisure and Hospitality Sector
No extension has been granted to the leisure and hospitality sector for use of the reduced 12.5% VAT rate on eligible supplies including food, non-alcoholic beverages and hotel and holiday accommodation.
Green Technology
Green technology, including solar panels and heat pumps, will be exempt from business rates in England from April 2022, a year earlier than originally planned.
