At Atumz Accountants Ltd, we provide a comprehensive range of VAT services tailored to the unique needs of businesses of all sizes, from startups and SMEs to larger enterprises. Our experienced team understands the complexities of VAT and can help you navigate the regulations effectively.

Our VAT Services Include:

• VAT Registration:

  • Threshold Assessment: We analyze your business’s turnover to determine if you are required to register for VAT.
  • Voluntary Registration: We advise on the benefits of voluntary registration and assist with the application process.
  • Scheme Selection: We help you choose the most suitable VAT scheme for your business, such as the standard scheme, the flat rate scheme, or the annual accounting scheme, to optimize your tax position.

• VAT Return Preparation and Submission:

  • Accurate Calculations: We meticulously calculate your output tax (VAT charged to your customers) and input tax (VAT paid on your business expenses).
  • On-Time Filing: We prepare and submit your VAT returns (VAT 300) to HMRC on time, ensuring compliance with deadlines and avoiding penalties.
  • Record Keeping Guidance: We provide guidance on maintaining accurate and up-to-date VAT records, including invoices, purchase orders, and bank statements.

• VAT Reclaims:

  • Input Tax Recovery: We assist you in identifying and claiming all eligible input tax credits, such as VAT on capital expenditure (e.g., equipment, machinery), rent, utilities, and other business expenses.
  • Research & Development (R&D) VAT Reclaims: We help you reclaim VAT incurred on eligible R&D activities.
  • Partial Exemption: We advise on the partial exemption method and assist in calculating the appropriate input tax recovery for partially exempt businesses.

• VAT Health Checks:

  • Compliance Reviews: We conduct thorough reviews of your current VAT procedures and records to identify any potential areas of risk or non-compliance.
  • Gap Analysis: We identify any potential VAT gaps and advise on measures to improve your VAT efficiency and minimize your tax burden.
  • Recommendations for Improvement: We provide tailored recommendations for improving your VAT processes and controls, such as implementing better record-keeping systems or reviewing your pricing strategies.

• VAT Consultancy:

  • Specific Transaction Advice: We provide expert advice on the VAT treatment of specific transactions, such as the supply and importation of goods, the provision of services, and cross-border transactions.
  • Impact of Legislation Changes: We keep you informed of any changes in VAT legislation and advise on their impact on your business.
  • VAT Planning: We help you plan for potential VAT implications of business decisions, such as expanding into new markets or making significant investments.