Value Added Tax (VAT) is one of the most complex tax obligations businesses face. Whether you operate your own sole trader business, are a partner in a business, or a director of a limited company, the ever widening scope of VAT calls for a trained professional eye to ensure that you remain compliant with the demands of HM Revenue & Customs (HMRC).
Our VAT Specialists can relieve the pressure, leaving you to concentrate on running your business. We will assist in all areas, including taking care of your VAT registration and de-registration, the preparation of VAT Returns, filing VAT Returns online to comply with HMRC regulations and ensuring deadlines are met to avoid any unnecessary penalties.
We can also assist with the complex areas of VAT registration and partial VAT exemption, ensuring you and your business stay fully compliant.
At David Allen, we always look to offer our clients more and go the extra mile. Not only do we ensure your VAT is dealt with correctly, but we will assess the figures for potential tax planning opportunities to help operate your business in the most efficient manner.
There are a number of VAT schemes available for businesses, such as the Flat Rate Scheme, which reduces your administrative burden, and VAT refunds for DIY builders, for example.
EU VAT Transactions
More businesses are now buying and selling goods and services to members of other EU countries.
There are strict requirements for the paperwork involved in any EU transaction and your VAT Return and related forms must be correctly completed.
Businesses that supply services to another EU country may even be obliged to register for VAT in another country.
Making Tax Digital
Making Tax Digital (MTD) has been introduced as a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. It will revolutionise the way that accounts are submitted in a new prescribed format and how data is sent to HM Revenue & Customs (HMRC). MTD will transform the way the tax system works so that it is more effective, efficient and easier for tax payers to use.
If you are a David Allen client we will ensure you meet HMRC’s requirements and fully comply with MTD. If you are not a client please get in touch for a free independent review.
We have put together some tips to help you get digital: