VAT

Managing VAT Service

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What is VAT?

VAT is a tax added to goods and services sold and the current rate is 20%. (On 8 July 2020, the government announced that it would introduce a temporary 5% reduced rate of VAT for certain supplies of hospitality, hotel and holiday accommodation, and admissions to certain attractions.)

Getting VAT right is vital. HMRC have considerable powers to audit company accounts and to penalize businesses that get it wrong. It can be easy to fall foul of the process, as some items are exempt, zero rated or charged on reduction, leading to costly mistakes.
Avoid unnecessary stress and worry, and allow Accurox to take over your VAT accounting and submission on your behalf. Click Here

Getting it Right

Getting it right is vital, as HMRC have considerable powers to inspect company accounts. Likewise, they have the power to penalise businesses that get it wrong. Confusion over what items are exempt, zero rated or charged on reduction, can lead to costly mistakes.

Making Tax Digital (MTD)

Making Tax Digital (MTD) is a government initiative to move tax returns into digital accounting. Value added tax was the first tax to be phased into MTD in April 2019. At Accurox we use cloud accounting software, Xero, to manage the process. We set your business up with Xero, to ensure your business is MTD compliant.
In short, avoid unnecessary stress and worry. Allow Accurox to take over your VAT accounting and submission on your behalf.

What Does Our VAT Service Include?

  • Registration of your business for VAT if it qualifies or would benefit from it
  • File VAT returns every month or quarter
  • Ensure that your business meets its legal VAT obligations
  • Make sure you are reclaiming VAT your business has incurred while buying goods and services
  • Regularly review your situation to make sure you don’t ever pay more VAT than you ought to

Get In Touch

We’d love to help you.

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