VAT is a complex tax. It can be changed regularly, and the regulations around registration and filing returns can be difficult to navigate. If you do not ensure your VAT details are maintained properly, you might end up paying more than you need to without realising. Worse, you might underpay and be liable for substantial penalties.
Rather than attempting to ‘muddle through’ yourself and inadvertently leave yourself open to fines and potential issues in future, employ our services at Red Dot and we can help you plan for your VAT returns, ensuring everything is fully compliant and that you are not wasting money through overpayments. It is a service that can pay for itself if your VAT suddenly becomes more manageable.
Planning for your VAT returns
Your VAT bill must be paid monthly or quarterly based on either your prior VAT bills or, for newly registered companies, an estimate. We can manage your VAT payments for you to give you complete peace of mind and ensure that you are not paying too little if your estimate has turned out to be inaccurate. We can also maintain your accounts on your behalf so that, when it is time to file your VAT return at the end of your accountancy period, it is a simple process that is compliant and correct.
Handling changes to regulations
Regulations and VAT rates can change. As experienced, professional accountants we are always fully aware of the latest rules and any alterations that need to be made. Use our services for VAT planning and we can make any corrections to your payments or accounts as soon as they are necessary. This way you are not left with a large unexpected bill when you file your return and you avoid any penalties.
If you would like us to take a look at your VAT accounts, handle your VAT registration or simply maintain your returns, please get in touch.