Do you need help with your VAT Return? We can help.
Callan Accountancy offer a huge range of accounting services to businesses all over Glasgow and beyond. We can prepare your VAT Returns quickly and affordably.
The very mention of vat registration and the associated compliance work is not something many are looking forward to or are comfortable with but vat registration for many business is a sign of growth. There are potential benefits of registration even if you have not reached the required turnover for last 12 months of in excess of £78,000. As you reach this figure you are typically obliged to register for vat.
Some of the typical questions we are typically asked would be:
1. How do I can to register for vat?
2. Can I voluntarily register for vat even before I turnover £78,000? Why would I do this?
3. What are the implications for my business when I do register for vat?
4. If I am registered for vat what can I claim for? Is it Flat rate or Cash accounting or Standard rate or Exempt or Zero rated? Do I need to operate a margin scheme?
The answer to the above depends on the business and typically the expenses you are claiming. Flat rate vat scheme may suit business with limited expenses whilst businesses which wait for payment from customers may wish to register for cash vat accounting. Vat is an incredibly complex and ever changing so do not underestimate its importance. With new penalty legislation, getting it wrong can be costly so get it right from the start and avoid the worry associated with this.
We can also assist with deregistration for vat if required.
Based in Glasgow we can assist with all your vat needs from review of vat workings, to vat preparation and submission of returns on line using Sage Accounts, Quickbooks and most leading software packages. Call us to arrange a meeting and we can advise of the most tax efficient and beneficial scheme to suit your business.
Feel free to e-mail vat@callanaccountancy.co.uk or during office hours call us on 0845 050 7613.
