online pharmacy europe


VAT Registration/Compliance

Need advice on whether to register for VAT?

Compliance with VAT is becoming ever more complex. Investigations from the Vatman can be intense – all the more important that you have an accountant who is successful in negotiations with them.

We take best advantage of the reliefs available and the interpretation of the regulations. This is an extremely important feature of the service provided as it ensures peace of mind for all our clients.

We can help you with VAT in the following ways…

  • Applying for and advice on VAT Registration; Completion of the VAT registration forms and formalities
  • Advising on the best VAT schemes to use suitable to your business – some you have to notify HMRC you are using and some you don’t
  • Completion of VAT returns – either from your books or we can do the bookkeeping for you. By letting us complete your VAT return it ensures that it will be accurate and that you don’t miss any opportunites to claim the VAT you should
  •  If you want to complete the VAT returns yourself we can train on how to complete them
  • Dealing/attending with VAT control visits/inspections
  • Dealing with any contentious disputes that arise with Customs
  • VAT Planning

Special Schemes

For most businesses VAT is simply added to the sales, then VAT on purchases is deducted to pay the the balance to HMRC, however this can cause cash flow problems to smaller businesses.You may pay the VAT to HMRC on invoices issued to customers even thought the customer has not paid that invoice, there are SPECIAL SCHEMES available to avoid such scenarios.

Some of the schemes are:

  • Cash Accounting – Your turnover needs to be within the limits for the scheme, if it is you will only need to pay VAT to HMRC when you are paid by your customers. The is advantageous to companies who grant extended payment terms to their customers.
  • Flat Rate Scheme – A flat rate percentage is applied to the sales and paid to HMMRC if traders qualifay for this VAT accounting scheme.
  • Annual Accounting – With this scheme you agree an annual liability paid on installments, the annual liability is based on the previous year’s figures. At the end of each year a final return is submitted and any balance due is paid or overpayment refunded.
  • Retailers Schemes – Ordinarily, registered traders are required to keep detailed records of every transaction. For retailers this could prove to be a time-consuming chore. To avoid this, affected businesses can use one of the schemes set up with retailers in mind.

We offer competitive fixed prices are are flexible to meet your requirements, together with our experience and expertise we can make your business more efficient by taking away the stress of quarterly/monthly VAT work.