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VAT Returns
What is a VAT return?
Our dedicated team of VAT accountants is well-equipped to assist you with a wide range of VAT-related services, starting from the process of becoming VAT registered and extending to the meticulous preparation and timely submission of your small business VAT returns to HMRC.
Should you seek VAT-related advice and expert guidance, we're always at your service. Whether your inquiries revolve around the advantages and prerequisites of VAT registration, exploring the various VAT schemes at your disposal, or gaining clarity on how VAT is applied to goods and services, both in the UK and internationally, we are your go-to resource.
Let us shoulder the administrative burdens and alleviate the stress associated with filing your small business VAT returns, ensuring their consistent and punctual submission, every single time.
Who needs to complete a VAT return?
If your annual turnover is over the VAT threshold of £85,000, you must fill out a VAT return.
How do you complete a VAT return?
Returns are completed digitally and must be completed 4 times a year and submitted to HMRC.
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How AMA Accountants Eases the Burden of Your VAT Return
1. If your business is not currently VAT registered, we can assess the applicable VAT schemes for which your business qualifies. We will engage in a discussion with you to outline the benefits of each scheme and subsequently facilitate the process of VAT registration for your business.
2. Many small businesses handle their bookkeeping internally, utilizing "Making Tax Digital" compliant software. If you choose to follow this approach, we can provide guidance on when VAT invoicing is mandatory and assist in identifying which expenses allow you to reclaim VAT.
3. At the conclusion of each quarter or the relevant accounting period, we will reach out to ensure that your accounting software is current and that all pertinent transactions for the respective quarter have been accurately recorded and reconciled.
4. Should you decide to utilize our bookkeeping services, we will handle the invoicing and reconciliations on your behalf. Additionally, we will conduct a thorough review to identify any potentially overlooked transactions or expenses that must be duly accounted for.
5.We will conduct a comprehensive review of your accounts, ensuring their accuracy and completeness, and proceed to calculate your figures. Whenever feasible, we will offer recommendations to help minimize your VAT liability. Following this, we will electronically submit your VAT return to HMRC.
6.Additionally, we will inform you of the total VAT amount you owe and provide you with the associated payment deadline.
7. Normally, clients opt for HMRC to collect VAT via direct debit, although you have the option to make payment through an alternative method, such as a bank transfer, if you prefer.
8. Just as we handle other aspects of tax, we can represent you in all dealings with HMRC, including instances where they may request a VAT inspection.
3 Reasons to choose AMA as your partner
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Comprehensivity
Instead of merely presenting reports, our emphasis will be on reporting, crafting essential performance indicators, and providing future-oriented suggestions.
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Professional Accountants
Having our proficient team of accountants at your disposal, we are dedicated to consistently delivering reports and recommendations within the established timeline, characterized by meticulous accuracy and precision.
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Surpassing Expectations
Our approach extends beyond mere numerical data. Leveraging our interconnected network of professionals, we utilize accounting information to offer tailored guidance and personalized recommendations.
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At AMA Accountants we understand that every individual and every business faces a unique challenge when it comes to accounting. That’s why we believe our approach sets us aside from our competitors. Our tagline is ‘professionals providing personalized, timely and effective solutions’ because we are committed to treating each and every client individually. You’re never just a number on a spreadsheet to us.