As VAT is a complex area of tax with constant developments in legislation and a number of VAT schemes, our clients benefit from the specialist knowledge and support we can offer them.
We closely monitor our clients’ turnover to ensure that VAT registration is completed once the VAT threshold is reached. Following registration we work with our clients to ensure they use the correct VAT scheme for their situation and also assist in setting up direct debits so that VAT payments can be taken on time and thus reducing the risk of late payment fines.
At Polkadot accountants we have extensive knowledge of:
- Flat-rate VAT schemes
- Standard-rate VAT
- VAT for cash accounting
- VAT requirements for inter-European and international trade
- EC sales lists and Intrastats
Many clients who use our VAT service also take advantage of our excellent bookkeeping service and provide the required documents once a month or once per quarter. In addition and as part of our flexible approach to our client’s needs, we also work with clients who manage their own bookkeeping and submission but who ask us to check their VAT returns for peace of mind.
In the unfortunate event of a HMRC tax investigation, our knowledgeable staff are well placed to assist our clients to ensure compliance with all requirements.