VAT

Simplify real-time reporting and VAT compliance with ease.

We can assist you with registration.

Your business may be small, and registering for VAT can be a daunting task. However, you can rely on your dedicated VAT specialist to take care of everything for you. They will keep you informed about new laws and regulations, sign you up for a suitable VAT scheme, handle the registration process, and assess the tax efficiency of your business. If your income is less than £85,000, you are not required to register immediately. However, it is still a good idea to prepare for the future.

YES, YOU HAVE TO!

VAT is compulsory if:

If your total VAT-taxable sales were more than £85,000 in the last 12 months, you are required to register for VAT with HM Revenue and Customs (HMRC) .

If you anticipate that your total VAT-taxable sales will exceed £85,000 in the next 30 days

Regardless of your VAT taxable turnover, you must register if all of these apply:

If you're operating internationally, have a business abroad

Your business is not in the UK

You’re overseas and so is your businessYou have to apply for VAT if you have UK sales (or will have them in the next 30 days)

NO, IT'S OPTIONAL

Voluntary registration is an option for those with annual sales under £85,000 or new businesses anticipating significant VAT-inclusive purchases eligible for reclamation. This voluntary registration can enhance your company’s cash flow by placing you in a repayable situation with HMRC.

FILING YOUR VAT RETURN WITH THE HMRC

With our VAT services, completing your returns becomes quick and hassle-free. Count on our expertise to handle your regular submissions to HMRC, removing the burden of managing them yourself. We’ll provide timely reminders for VAT return deadlines, ensuring preparation and on-time filing with HMRC. Additionally, we’ll assess your business’s financial situation and inform you whether it’s in a payable or repayable state. Our experts will also scrutinize your expenditure to identify what can be claimed from HMRC on your return, maximizing your potential savings.

MTD VAT ONLINE ACCOUNTING SETUP

We prioritize swift submission and filing of your VAT returns. Our compliance with Making Tax Digital (MTD) ensures efficient filing using our online accounting software solutions. Upon joining us, you’ll receive access to either Xero, QuickBooks, or FreeAgent, depending on your specific needs.

ASSESSMENT OF YOUR INDUSTRY/OVERSEAS TRADING

For savings, it’s advisable to analyze and assess your VAT scheme. Our VAT experts and tax advisors will evaluate your industry and specific circumstances, including international business operations. Based on this assessment, we’ll offer guidance on the most suitable VAT scheme tailored to your needs.

VAT SCHEMES

Flat Rate Scheme

The VAT Flat Rate Scheme streamlines VAT payments, resulting in less paperwork for businesses. The VAT amount paid to HMRC is determined by the type of business and customer fees. You retain the difference between what you charge and what you pay to HMRC. However, it’s important to note that under this scheme, you cannot reclaim VAT on purchases, except for capital assets exceeding £2,000.

Cash Accounting Vat Scheme

Customers who pay promptly but purchase on credit may prefer a cash basis since VAT is recouped sooner. You may choose an invoice-based payment system if your customers wait longer to settle their accounts, but you pay your suppliers immediately.

Standard Accruals Vat Scheme

We guarantee that your online accounting software delivers real-time information. With our support, you’ll have access to financial reports that illuminate your company’s performance. Our team will furnish you with crucial documents, including an income statement, balance sheet, cash flow statement, and industry-specific success metrics reports, enabling you to make informed decisions based on accurate and up-to-date data.

Vat

As your dedicated limited company accountants, we’re here to support you with any financial responsibility you may encounter.

Why Choose US

Industry Specific

Our ICAEW-regulated chartered accountants offers tailored guidance, from optimizing your business structure to effective tax planning.

Grow Your Business

Boost your business with tailored strategies. We understand your uniqueness and provide objective guidance to drive success.

We Don't Get You to Do the Bookkeeping

at Addison Accountants, we handle bookkeeping for all our clients, relieving you of this task. Our hassle-free service ensures you don't have to worry about entering receipts and bills.

Integrate all your Software

We provide cutting-edge business software solutions that help businesses succeed. Our solutions cover bookkeeping, productivity, and stock management. We work with you to find the solutions that are right for you.

All In One Package

We're your one-stop shop for comprehensive business services, covering everything from bookkeeping to legal counsel. Our aim is to ensure your business not only thrives but also maintains long-term sustainability.

Get tailored support just according to your needs.

Not sure what’s right for you?

TESTIMONIALS

What our client says?

“I have been impressed by the professional standing of all people I dealt with at Addison Accountants. They have done the review of our financials without any shortcuts whilst keeping an eye on timing.”

“Addison Accountants has been a huge help to our business since we have worked with them. They are a really friendly and professional team and always quick to respond.”

“We have found the Addison Accountants team to be very professional, knowledgeable and approachable.”

VAT