VAT Services Leicester

Our all inclusive VAT returns service in Leicester is trusted to ensure your company remains compliant and up to date at all points during the VAT returns process.

Why choose Barnstone Accountancy as your VAT Returns Service in Leicester

Here at Barnstone Accountancy we can help clear a pathway through the confusing world of VAT returns. By utilising our all inclusive VAT services, we will ensure that you and your company remain compliant with the latest regulations and your VAT returns are completed correctly and filed on time every time. This means that when the inevitable VAT payment request lands in your in-tray, you can be confident that you will be making the correct payment to HMRC.

To help guide our Clients through this complex area of Business, Barnstone can also provide a bespoke, cost-efficient VAT services where we do as much or as little as you require. This can include assistance with:

• VAT registration and de-registration

• Advice on VAT planning and administration

• VAT control and reconciliation

• Help with completing VAT returns

• Planning to minimise future problems with HMRC

• Negotiating with HMRC in disputes and representing you at VAT tribunals

In addition to the above, HMRC are now directing that applicable individuals and Businesses who are VAT registered need to be compliant with “Making Tax Digital”.

This means that all applicable Businesses will need to keep their records digitally and utilise suitable Software to transmit their VAT returns to HMRC. For further information please visit our “Making Tax Digital” page.

No fuss, jargon free and easy to understand

VAT Return FAQs

What is VAT and why do I need to submit VAT returns?

VAT (Value Added Tax) is a consumption tax applied to most goods and services sold within the UK. Businesses registered for VAT must submit regular VAT returns to HMRC, usually every quarter, detailing the VAT charged on sales and the VAT paid on purchases. The difference between these amounts determines whether you owe VAT or are due a refund. Submitting VAT returns on time and accurately is a legal requirement, and failing to do so can lead to penalties.

What VAT return services do you offer?

We offer comprehensive VAT return services to ensure your business complies with HMRC regulations. Our services include preparing and submitting your VAT returns, reviewing your records to ensure accuracy, calculating VAT owed or refundable, and providing advice on VAT schemes that could benefit your business. We’ll also manage the filing deadlines, so you don’t need to worry about penalties for late submission.

What is MTD for VAT and how does it affect my business?

MTD (Making Tax Digital) for VAT is a government initiative that requires all VAT registered businesses to keep digital records and submit VAT returns using compatible software. This is regardless of whether your business has taxable turnover in excess of £90,000. We can help register your business for VAT, ensuring compliance with MTD and making the submission process straightforward and efficient.

How often do I need to submit a VAT return?

VAT returns are typically submitted quarterly, but some businesses may be eligible to submit annually under certain conditions. The standard deadline for submitting a quarterly VAT return is one month and seven days after the end of your VAT accounting period. We can help track your VAT periods and ensure that your returns are filed on time to avoid late submission penalties. There are also situations were monthly returns are helpful, particularly in the construction industry. This is a specific application with HMRC, which we can help you prepare and submit.

Can you help with VAT registration and deregistration?

Yes, Barnstone can assist with both VAT registration and deregistration. If your business meets the VAT registration threshold or if you voluntarily want to register, we can guide you through the process and submit the necessary paperwork to HMRC. Similarly, if your business falls below the VAT threshold or you no longer need to be VAT registered, we can help with deregistration and ensure your VAT records are properly updated.