Getting your VAT returns ready for submission in line with the latest HMRC regulations is a crucial task that a lot of small business owners get wrong, which means they end up paying avoidable penalties simply because they do not have a VAT professional in their team.
Our professional VAT services in London are designed to make sure this never happens to our clients. As small business tax accountants, we know the pains involved as well as the remedies to eliminate them.
VAT RETURNS PREPARATION
If your annual turnover exceeds the threshold set by HMRC (currently £85K), your business is required to submit VAT returns. As part of their ambition of Making Tax Digital (MTD), British tax authorities have made a lot of changes in the way VAT returns were prepared and submitted, which will lead to convenience for business owners in the long-term.
To help you manage these changes with ease and accuracy, our team at iTax Solutions can look after the needs of your VAT returns preparation and submission process according to the current VAT regulations that apply on your industry.
Starting with helping you register for the appropriate VAT scheme at HMRC, we will be there to prepare your VAT returns whether they are due every month, quarter, or year.
We will not only calculate your VAT amount accurately for every return but also notify you whenever a new regulation becomes part of the legislation and might affect these calculations.
In short, when it comes to your VAT returns and other emerging changes due to the introduction of MTD, you can count on us to get everything in order for your business in time and protect you from HMRC penalties.