Professional VAT Services for Small Businesses

If you’re looking for a perfect blend of efficient VAT accounting services, state-of-the-art software, and trained staff, look no further, as we provide a comprehensive range of VAT services to cater to your VAT Filing, Reporting, and Advisory needs.

VAT Services

Simplifying VAT Compliance, Planning & Reporting

Clear House Accountants, with their experience and qualifications, prepare VAT returns, can provide VAT reporting, and will also submit VAT returns for your business using MTD-compliant methodologies.

What is VAT, & When Will Your Business need to Register for VAT?

Value Added Tax (VAT) is charged at 20% on most goods and services and 5% on specific items like health and energy. Businesses with over £90,000 turnover must register, collect VAT, and file quarterly returns with HMRC. VAT exemptions apply to certain transactions, including health, construction, and children’s clothing.

VAT Services

How can We Help With Your VAT Returns?

VAT returns can be challenging for a VAT registered business, and Clear House Accountants can help with the preparation, review and submission of complex or straightforward VAT returns. Returns can be submitted under a variety of schemes and with varying frequencies.

Our service will make sure to take out the hassle, complications and risks from your VAT return process.

All the VAT-registered companies are required to file a periodic VAT return. VAT returns calculate how much VAT is to be paid to or reimbursed by HMRC. VAT returns are submitted every three months, known as the ‘vat quarter’. In that period, all taxable transactions that took place are reported, and any VAT liability or refund is calculated.

Clear House helps you avoid any penalties for inaccurate mistakes. An opportunity for you to identify your risks by reviewing your current process, practices, and procedures. Availing a Health check service is to demonstrate to HMRC that you take care when considering VAT. Clear House guides you throughout the process to ensure all the necessary steps are taken care of

The VAT Health check will include the following:

Review and sample check your records
Statistically analyses VAT returns
Sample check the completion of VAT returns
Compare your VAT returns against your annual accounts
Check the VAT treatment of your sales
Analysing your business against relevant VAT schemes
Ensure you are correctly applying the rules of VAT schemes

Clear House takes the best advantage of the reliefs available and the interpretation of the regulations. We understand how intense investigations of the VAT man can be.

Compliance with VAT is becoming ever more complex, all the more important that you have an accountant who is successful in negotiations with them. 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 advice on VAT registration
Advice on the VAT schemes suitable to your business
Completing VAT returns – either from your books or we can do the bookkeeping for you.
Dealing with any contentious disputes that arise with Customs
Dealing with VAT control visits

We help determine if your business needs VAT registration and handle the entire process with HMRC. Our team carries out all necessary checks for quick registration. For voluntary registration, we assess whether it benefits your business financially. Additionally, we review if specific VAT schemes suit your situation, enabling overhead savings by reclaiming VAT, which boosts your business’s operations.

Our services:

VAT registration forms
VAT schemes suitable for your business
VAT Returns and training
VAT planning
Dealing with any contentious disputes
Attendance at VAT inspections

VAT Services

Get Your Business Ready for MTD for VAT!

VAT-registered companies must now maintain records and digitally submit their VAT returns, which is required under the MTD program.

We use Xero and QuickBooks, are MTD certified and are also approved for use by major accounting bodies such as ICAEW and the Association of Chartered Certified Accountants (ACCA).

We will make sure to file your VAT returns on time and provide VAT guidance and support when needed.

VAT Services

Why Choose us as Your VAT Accountants?

Clear House Accountants have a deep understanding of VAT and the indirect tax system in the UK. Our team is highly qualified and experienced, working with some of world’s most renowned software providers.

Holistic VAT Services

Selecting the right VAT plan is crucial for your business. We guide you through registration, advise on plan changes, and keep you informed of any VAT law updates after you’ve selected a suitable plan.

Dedicated VAT Accountant

Our firm, with years of experience, ensures VAT compliance by identifying risks and capturing all VAT transactions accurately, reducing liabilities. We help your business remain both productive and profitable while minimising compliance risks.

Talk To A Specialist VAT Advisor

To Understand Which Scheme Would Be Ideal For Your Business.

VAT Services

VAT Accountants for E-commerce Businesses

Over the last 18 months, eCommerce firms have seen enormous revenue increases, prompting the EU to establish the “EU VAT Ecommerce Package” to simplify VAT reporting for individual sellers and shift VAT liabilities onto marketplaces.

The 2021 VAT eCommerce package, including the OSS and IOSS, simplifies VAT calculations for B2C European sellers, especially for vendors dealing with imported goods, ensuring easy VAT compliance.

With our team of expert accountants for eCommerce businesses, Clear House Accountants is helping eCommerce businesses in the UK with their VAT calculation and VAT filings.

VAT Services

Which VAT scheme would be better for your business?

How to get started with our tax services in the UK?

At Clear House Accountants, we pride ourselves on providing exceptional tax services across the UK, focusing on key business hubs. Our expert team is readily available to assist you in the following prime locations:

Flat Rate Scheme

The VAT Flat Rate Scheme ensures businesses pay a consistent VAT amount with less paperwork. The amount paid to HMRC depends on your business classification and charges. Download the complete list of flat vat rates for more details.

Standard VAT Accounting

Standard VAT accounting records transactions when occur, which cause cash flow issues as VAT is paid before receiving payment. However, you can claim VAT on unpaid invoices, positively affecting cash flow for goods bought.

VAT Cash Accounting

Under the Cash Accounting System, you pay VAT on sales when clients pay you and reclaim VAT on purchases after paying suppliers. Your VAT taxable turnover must be £1.35 million or less to join this program.

Clear House Accountants team is highly professional and easy to communicate. Every time I had questions they were very mindful and eager to find a solution for me and my business. I definitely recommend.

I’ve been working with clear house accountants for a long period of time and have been consistently impressed with their expertise, professionalism, and friendly service. Their team has taken care of all my accounting needs, from tax returns to financial planning, with utmost care and accuracy.

They’re not just accountants they’re solution providers. They respond quickly …. they make my life easier and ‘I’ve never even seen a small mistake, you know this so important for accountants. They’ve earned my trust and gone above and beyond many times. There is no question in your mind. You can trust them easily.

I have been associated with Clear House Accountants for a few months but I am truly impressed by their work. Competitive and excellent accountants who know the best use of accounting software. I am sure everyone would love to work with you guys. It’s absolutely recommendable.

FAQs

Most Asked Questions

Is VAT included in the Profit & Loss (P&L) calculation?

If you are VAT registered, your income and expenses are likely to be shown as “net” of VAT, meaning any VAT paid/collected is not included in the profit and loss account. The profit and loss account also only includes ‘revenue’ transactions that are directly connected to the company’s commercial activity.

What is the duration of my VAT accounting period?

You usually file a VAT Return to HM Revenue and Customs ( HMRC ) every three months. This is referred to as your ‘accounting period.’ The VAT Return keeps track of your overall sales and purchases for the accounting period.

What are the four VAT quarters?

The most frequently used quarterly VAT return dates are

1st January – 31st March.
1st April – 30th June.
1st July – 30th September.
1st October – 31st December.

How do I submit a VAT return?

You’ll need a VAT number and an online account. You may submit your VAT Return through HMRC’s free online service or commercial accounting software. However, if you’ve registered for ‘Making Tax Digital for VAT,’ you can’t use your internet account to send your return. You can also ask for professional assistance from specialist VAT accountants.

Is the VAT charged by direct debit on a specific date?

If your VAT period expires on 31 March, you must pay the VAT liability by 7 May. If your firm has registered for direct debit payments to be taken three days after the VAT abandonment deadline.

Is it possible to make changes from quarterly to monthly VAT submissions?

You can update your VAT registration details from quarterly to monthly by logging in to your VAT online services account and changing your ‘registration details’. Alternatively, fill out form VAT484 and submit it via post to HMRC.

What happens if I pay my VAT late?

If you file an incorrect VAT return or pay a debt to HMRC late, you will be placed on a 12-month ‘surcharge period.’ If you submit any further late returns or make additional late payments during this time, you will be penalized, and the surcharge period will be extended for another year.

How far back can I claim VAT?

You can usually reclaim VAT on purchases you made up to four years before you registered for VAT and services you purchased up to six months before, as long as the following conditions are met: You bought the products or services while acting as the entity that is now registered for VAT.