VAT

Accounts Navigator

Understanding VAT can be a minefield, especially if it is not your area of expertise – knowing which items are zero-rated, exempt or outside the scope of VAT can be confusing.
Do I need to be VAT registered?

If you have a turnover of £85,000 and above, you are required to register for VAT. If you are under the threshold, you can still register for VAT voluntarily.
Our VAT experts can help your business

Our qualified Experts are here to make the VAT-side of your business beautifully simple.

Our VAT Service includes:
• Vat registration
• Advice on VAT planning and registration
• VAT control and reconciliation
• VAT returns
• MTD for VAT
• VAT Investigations

Why should I have an accountant complete my VAT Returns?

VAT is a tricky area of finance to understand – knowing which goods and services are exempt and which aren’t is a difficult and time-consuming task that, if completed wrong, could result in investigations and/or fines. Having a team of experts on your side will ease any stress that comes with filing your VAT Return.

How Accounts Navigator Associates process your VAT:

We prepare and submit VAT returns ongoing, meaning that you will be well aware of your VAT liabilities and keep the VAT-man happy! We’re not just filing a bunch of numbers though, we take a 6 step approach to our VAT Returns service:

  1. Create a recurring job in our job management system so we NEVER miss a deadline and begin work on the VAT return the day after the period end
  2. Carry out an audit of ALL transactions for the period – check that purchase VAT has been claimed on every transaction that it should have been and conversely that it hasn’t been claimed where it shouldn’t have been
  3. Ensure that you are on the best scheme to maximise your cashflow – Cash or Accruals. Also keep an eye on going over the threshold at which you HAVE to move to accruals by obligation
  4. Send you notification of the amount due within 3 weeks of the quarter end, giving you 2 weeks notice of the amount to be taken automatically via direct debit
  5. File the VAT return on time, every time
  6. Deal with any queries, enquiries, or investigations from HMRC so you don’t have to get involved, allowing you to focus on running your business and avoiding further cost of bringing us into an investigation.

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Accounts Navigator Associates is a modern accountancy practice based in Waltham Abbey, Essex, working with clients both locally and nationally reach their full potential and achieve their business goals.

Interested in working with us? Book in for a Discovery Call with one of our Senior Accountants to discuss how we can work together to skilfully navigate you towards business growth and success.

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