VAT legislation has become increasingly complex and there are a number of areas of opportunity to improve your cash flow, save you time and in many cases claim back significant amounts of money. Currently all businesses with a turnover of more than £85,000 are required to register for VAT but there can be benefit in registering voluntarily in some cases.
At JMT we offer a comprehensive VAT compliance and planning service to make sure that you only pay as much VAT as you have to. Our VAT team has extensive knowledge and many years experience in dealing with VAT issues.
Our VAT compliance service is of particular benefit to businesses that do not have a full understanding of the VAT legislation. Many of our clients choose to outsource both their book-keeping and Vat Return filing to us as a cost effective option of dealing with their compliance obligations. Given the introduction of Making Tax Digital for VAT on 1 April 2019, we spent a lot of time with our clients in the run up to April 2019 to ensure that they have an MTD compliant system in place. Our clients value the full and proactive service offered by our dedicated Business Support Team and in particular, the fact that we are always at the end of the phone to assist with any queries, no matter how big or small.
Some clients go one step further and outsource their full book-keeping and VAT compliance work to us in the knowledge that the time saved lets them focus more fully on running their business and servicing their clients, all with complete peace of mind that their book-keeping function is being managed by experienced professionals. At the same time, any involvement we have in your quarterly VAT compliance work will reduce the time required to prepare your annual accounts as most of the basic work in this area will have already been completed. With the introduction of MTD for VAT, we find that more and more clients are happy to take up our comprehensive bookkeeping and VAT service, safe in the knowledge that we will deliver a cost effective and fully compliant service.
As many clients prefer to retain their records until such time as their annual accounts are due for completion, we offer a flexible service whereby we can carry out our VAT compliance service in our office or, if preferred, at your office, returning records to clients regularly or using email transmission of data and files. We’re vocal supporters of the use of cloud accounting software and this has revolutionised the way we work with our clients and greatly enhances our ability to provide advisory services in real time.
For more information on the VAT services we offer please get in touch.