Value Added Tax
VAT is a complex area, and is becoming more complex year by year. Accurate accounting for VAT is a fundamental requirement to ensure that you pay, or recover, the correct amount of tax but also to meet the standards of record keeping expected by HMRC. You may incur penalties and/or interest if late or incorrect returns are made.
We can assist you with, and advise on:
- Registration – compulsory or voluntary
- Preparation of returns
- Special rate schemes
- Cash accounting
- Annual accounting
- Flat rate scheme
- Retail schemes
- Exemption and partial exemption
- Enquiries on the many VAT issues that arise in day-to-day business or in relation to specific transactions
If you employ staff then you will have PAYE statutory filing and payment deadlines to meet with HMRC, covering Income Tax and National Insurance Contributions. This can be a demanding procedure – legislation changes frequently and there are penalties for late submission of returns.
We can help you get on with the running of your business by providing an on time, tailor made service that includes:
- Employee payslips
- Monthly summaries
- Dealing with leavers and starters, maternity and sick pay
- Dealing with benefits in kind
- Analysis of staff costs
- PAYE returns for the Revenue
- Employer Annual Return P35
- Employee summary P60’s and P14’s
- P11D and P9D benefit and expenses returns
Beyond the payroll compliance service, we can also offer advice on other employment tax issues including tax efficient remuneration strategies and benefits planning.