VAT review and submissions (up to £75k T/O)

£15.00

VAT review and submissions of your return each quarter including calculation and reminders for approaching deadlines for filing and payments.

SKU: VAT-75-10001 Category: Tag:

Description

VAT review and submissions are usually made to HM Revenue and Customs (HMRC) every 3 months. For the purposes of VAT, this period is known as your ‘accounting period’. The VAT Return records your total sales and purchases, the amount of VAT you owe, the amount of VAT you can reclaim or what your VAT refund from HMRC is.

If you are registered for VAT, you must submit a VAT Return even if you have no VAT to pay or reclaim. If required, we can assist you with registering for VAT. Please contact your dedicated account manager and quote a one-off fee of £25 plus VAT.

In your VAT review we will fill in your return and work out what you can claim. On completion, we will present this to you for your understanding and acceptance along with answering any questions that may arise. Subsequent to this, by using government approved compatible accounting software (Xero) for Making Tax Digital (MTD), we will submit your return to HMRC and inform you of any amounts due before any deadlines.

Dependent on the VAT scheme you are using, the deadline for submitting the return online and paying HMRC are usually the same – 1 calendar month and 7 days after the end of an accounting period. You need to allow time for the payment to reach HMRC’s account.

HMRC have more information here.

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