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VAT Accounting Services for your Business

Our qualified team of accountants is ready to help you prepare and submit your VAT returns. Get in touch today, to join our hassle-free VAT service.

Ensure you’re on the most appropriate VAT scheme
Assistance with keeping VAT owed separate to day to day finances

Excellent 5 Stars

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Navigate VAT with Precision. Expert VAT Accounting Services

Elevate your business’s VAT management with our premier VAT accounting services. Our adept team of VAT accountants is primed to guide you through the complexities of VAT submission and compliance. With a commitment to excellence and a keen eye for detail, we ensure your VAT affairs are in meticulous order, offering peace of mind and strategic financial advantage.

When do you
need to register?

VAT becomes mandatory under the following circumstances:

Over the past 12 months, your cumulative VAT-taxable sales exceeded £85,000 (referred to as the VAT threshold).

Anticipate that your sales will surpass £85,000 in the upcoming 30 days.

Additionally, irrespective of your VAT taxable turnover, registration is compulsory if:

  • Your business operates abroad.
  • You are located outside the UK.
  • You engage in the sale of products or services to the UK, or you expect to do so within the next 30 days.

VAT Schemes

Cash Accounting
Scheme

Customers who consistently make prompt payments, especially those who operate on credit terms, often find the cash basis appealing. This approach accelerates the recovery of VAT, providing a more expedient cash flow. However, if your customers tend to take longer to settle their accounts, yet you maintain a practice of promptly paying your suppliers, an invoice-based payment system may be suitable.

Flat Rate
Scheme

The VAT Flat Rate Scheme simplifies VAT payments for companies, requiring less paperwork. The payment to HMRC is determined by the business type and customer fees. You retain the difference between your charges and the amount paid to HMRC. It’s important to note that VAT cannot be reclaimed on purchases, except for capital assets exceeding £2,000.

Standard Accruals
Scheme

Standard VAT accounting involves reporting financial activities in real-time, irrespective of payment dates, potentially impacting your cash flow as you are obligated to remit VAT to HMRC for services or items supplied even before receiving compensation; however, a mitigating factor is that you can claim VAT on the invoice, often beneficial to enhance your cash flow by recuperating VAT on products not yet paid for.

How Our VAT Service Works

Assessing Your Trading

When seeking to enhance your savings, we highly recommend a thorough analysis and evaluation of your VAT scheme. Our team of VAT experts and tax advisors specialises in scrutinising your industry and assessing your unique circumstances, including international business operations. Based on this comprehensive examination, we will offer tailored advice on the most fitting VAT scheme for your situation.

Online VAT Accounting Setup

We are committed to streamlining your submission and filing of your VAT returns. As a compliant entity with Making Tax Digital (MTD) standards, we leverage advanced online accounting software solutions for seamless filing. When you join us, you will receive either Xero, QuickBooks, or FreeAgent—tailored to meet your specific requirements.

Filing VAT Return with HMRC

Our VAT services streamline the process of completing your returns. Count on our expertise to handle regular submissions to HMRC, eliminating the hassle associated with filing returns. We proactively remind you of upcoming VAT return deadlines, diligently prepare and submit them to HMRC on time, and provide guidance on whether your business is in a payable or repayable situation. Additionally, we review your expenditures, identifying eligible claims from HMRC to maximise returns on your behalf.

Explore Our Other Services

VAT

Expert VAT Services in London – Streamlining Your VAT Compliance and Optimisation.

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Payroll

Efficient Payroll Services – Simplifying Your Payroll Process with Accuracy and Compliance, including workplace pensions.
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Bookkeeping

Professional Bookkeeping Services – Keeping Your Financial Records Impeccable and Up-to-Date.

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Registered Address

Reliable Registered Address Services – Offering a Prestigious Address for Your Business Correspondence.

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Company Formations

Seamless Company Formation Services – Guiding You Through Every Step of Starting Your Business in the UK.

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Financial Accounts

Comprehensive Financial Accounting Services – Ensuring Accuracy and Clarity in Your Financial Reporting.

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Explore all our Services

Tax Planning & Advice

Strategic Tax Planning and Advice – Tailored Solutions for Optimising Your Tax Position.

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PT Financial Director

Experienced Part-Time Financial Directors – Providing Strategic Financial Leadership for Your Business.

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Personal Tax Returns

Personal Tax Return Expertise – Maximising Your Tax Efficiency and Minimising Liabilities.

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Join Us for Unparalleled VAT Accounting Support

Making the switch to AJN Accountants is designed to be straightforward and hassle-free. We take charge of all complexities, ensuring your transition is smooth with minimal disruption to your financial operations.

Our team is dedicated to providing a seamless transition and ongoing, expert VAT management.

Get a FREE quote.

AJN Accountants are a team of specialists that can assist you with all your accounting and taxation needs in one place. Get in touch for a free no obligation quote today.

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Frequently Asked Questions

What is VAT?
Value Added Tax (VAT) is a consumption tax that is levied on the sale of goods and services at each stage of the production and distribution chain. It is a type of indirect tax, meaning it is ultimately borne by the end consumer but collected and remitted by businesses. Understanding VAT is crucial for businesses and consumers alike. It impacts pricing, profit margins, and overall financial management. By comprehending VAT principles, businesses can make informed decisions and consumers can better interpret the costs associated with their purchases.
How is VAT managed within accounting practices?
In accounting, VAT is recorded through the VAT account, tracking the VAT on sales (output VAT) and purchases (input VAT). The difference between these amounts is what businesses either owe to HMRC or can reclaim.
Can managing VAT be complex for businesses?
Yes, VAT accounting can be complex due to the detailed rules on what VAT is charged, how much to charge, and the various schemes available to businesses, requiring careful management and often expert advice.
What role does a VAT accountant play?
A VAT accountant specialises in managing all aspects of VAT for businesses, including VAT registration, preparing and filing VAT returns, advising on VAT schemes, and ensuring compliance with VAT regulations.
What are the benefits of hiring a VAT accountant?
Hiring a VAT accountant can save businesses time and money, ensure accurate VAT filing, provide expert advice on VAT matters, and help navigate the complexities of VAT legislation, reducing the risk of errors and penalties.