VAT Returns



All businesses with a turnover of £82,000  (from 1 April 2015) or more need to register with HM Revenue & Customs to pay Value Added Tax.

We can advise you on the most effective scheme for you and complete registration on your behalf:-

Flat Rate Scheme

Usually the VAT a business pays or claims back from HM Revenue & Customs is the difference between the VAT they charge their customers and what they pay on their purchases.

With the Flat Rate Scheme you pay a fixed rate, there are different rates for different types of businesses.

To join this scheme your VAT turnover must be less than £150,000 (excluding VAT).

VAT Cash Accounting Scheme

With the cash accounting scheme you pay VAT on your Sales once your customer has paid you and reclaim the VAT on purchases when you have paid your supplier. To join this scheme your VAT taxable turnover must be 1.35 million or less.

VAT Annual Accounting Scheme

Usually VAT registered businesses submit their VAT returns and payments to HM Revenue & Customs quarterly. With the annual accounting scheme you make advance Vat payments towards your VAT bill based on your last return (or estimated if you are new to VAT). You only have to submit one VAT Return a year. To join this scheme your estimated VAT taxable turnover has to be 1.35 million or less. This scheme would not suit your business if you regularly reclaim VAT as you would only receive one refund a year.

We can provide guidance to help you complete your Vat Return or alternatively we can manage, complete and submit your returns for you.

For more information please contact us.