VAT Services

When your annual sales reach up to £70,000 annually, the registration for VAT becomes compulsory. VAT is Value Added Tax levied on each stage of value addition. A business can register for VAT prior the turnover reaches the doorstep of £70,000.

 

 

After the registration for VAT, the business becomes responsible to charge VAT in correct percentage on every sales invoice and transfer of products and services. Companies also need to maintain proper accounts of the VAT charged and also subject to VAT inspection. VAT returns are required to be filed on quarterly basis. It is submitted to custom and excise before the end of the following month. There are many ways to file the VAT return.

 

 

Many businesses go for the traditional way to file their VAT return as some people do not consider it safe to transfer the amount electronically. Whichever the way you use to file the VAT return, the focus should be on filling the VAT return on time. Penalty is charged in the case of failing to submit the VAT return on time and interest will be charged on the outstanding amount.

 

 

It is really important to submit the VAT return on time, failing to which may catch the attention of tax 

authorities to your business. It will raise the chances of inspection of your business and investigate the offender. Filing the VAT return on time is not the only thing of importance, the maintenance of account books correctly is another major aspect to prevent the business from untimely inspection. The VAT registered businesses are usually inspected after every three years but the custom and excise can review the account books even after every quarter.

 

Our dedicated team will help you consider the full impact of VAT at all stages of your development, from initial requirement through to internal restructurings, acquisitions, overseas expansion and disposals of parts of the business.

 

 

We will help you to plan robustly, minimise your exposure and maximise your cash flow position.

 

 

Our specialist service include:

 

Negotiations with HMRC to reduce VAT assessments

 

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Assistance with VAT inspections

 

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VAT registration and de-registration

 

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Advice on choosing the right scheme

 

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 Completion of VAT returns

 

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 VAT compliance health check

 

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 VAT planning throughout the business lifecycle

 

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 Ensuring VAT groups maximise tax efficiency

 

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 Providing up to date advice on current opportunities to reclaim VAT following changes  to the legislation and tax cases in the UK and European Courts.

 

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Please contact a member of our team to arrange a no obligation initial consultation.

 

 

We provide the VAT return facility for organizations with or without a permanent establishment. The service price starts from £45 per months and is paid for 3 months upfront.

 

 

If you wish to use any of the above facilities please contact our Customer Service Team on

 

enquiry@nvkgroup.co.uk