VAT

Compliance with VAT legislation can be very expensive if you get it wrong.  We help ensure that you are on the most beneficial VAT scheme for your business needs and fully meet your VAT reporting obligations.

For a free initial meeting to discuss how we can help you contact us online or call us on T: 023 9248 4356T: 023 9248 4356


Subscribe Now

VAT

Making Tax Digital for VAT extension

From 1 April 2022 new regulations requiring VAT-registered businesses with a taxable turnover below £85,000 are coming into effect. The requirements are

  • to keep digital records
  • use HMRC-compatible software to file VAT returns
  • to ensure there are 'digital links' between systems is more than one is used

You can read more about the new regulations on our Making Tax Digital for VAT page, 

How we can help

Businesses must register for VAT with HMRC if their VAT-taxable turnover is more than £85,000 (VAT threshold).

All VAT-registered businesses must charge VAT on their goods or services and may reclaim any VAT they’ve paid on business-related goods or services.

If you are a VAT-registered business you must report to HMRC the amount of VAT you’ve charged and the amount of VAT you’ve paid. This is done through your VAT Return which is usually due every three months.

For more information about VAT please see our Introduction to VAT for UK Businesses advice guide.

You might also be interested in reading about the many quirks and foibles of VAT in this factsheet

Capital Goods Scheme for VAT

If you acquire or create an expensive capital asset, or already have one when you register for VAT, you may have to adjust the amount of VAT you reclaim. You do this by using the Capital Goods Scheme, which allows you to spread the initial VAT claimed over a number of years. For more information on how this works please see our guidance.

Our VAT Services

We offer fully managed outsourced VAT services including:

  • Advice as to whether your business needs to become VAT-registered and when
  • Preparation and online filing of your VAT returns
  • Planning and structuring VAT transactions
  • Health checks to ensure VAT compliance
  • Customs duties
  • VAT advice with regards to specific sectors
  • Assistance with partial exemption calculations and annual adjustments

We provide a fixed fee quote, which is based on your unique requirements.  Please call us on 023 9248 4356 if you need advice.

 

Request a Quote

Name:
Company:
Email Address:
Contact Number:
Services interested in:









Nature of your business:
Enquiry:

Click here if you would like to opt in to receive updates and event invitations from Morris Crocker.

Please confirm you are human:
 


REF: MC/RQ/1.6

What our clients say...

I am a GP partner working in London. I have used Morris Crocker to produce my partnership and personal accounts for a number of years.The team at Morris Crocker are superb. Friendly, efficient and very knowledgeable. They have a very experienced team who have a huge amount of knowledge for NHS GP practices. As well as preparing my accounts and tax returns they provide additional services such as financial management. They have helped me on a number of business matters such as capital gains, budgets and forecasts. Pete and his team make things straightforward and easy to understand. They also helped us streamline the day to day bookkeeping by use of IT and have always been on hand for support and advice any time. I would not hesitate to recommend them as accountants especially to GPs. In the current NHS you need the best accountant that you can find who know what they are talking about. You will find that in the team at MC.  

Latest news...

27/10/2021

Supply pressures mount in manufacturing

UK manufacturing output volumes in the quarter to October grew at a similarly firm pace to September, according to the Confederation of British Industry (CBI). The latest quarterly CBI Industrial Trends  

READ MORE

Newsletter Sign Up

Sign up to keep in touch to receive our latest news and industry updates.

Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.



REF: MC/NL/1.2