Clear and coherent VAT guidance
Specialist VAT advice – whatever the scale of your business, we’ll navigate the complexities and legislation to ensure you are compliant.
VAT is a complex area where legislation regularly changes and can be a minefield for any business. If you miscalculate and underpay VAT, the resultant catch-up payments, fines and interest will be a direct cost to your business.
We will ensure that you comply with the statutory VAT requirements by dealing with every aspect of advice and planning, including:
- Recommending the right VAT scheme for your organisation
- Registering / de-registering your business for VAT
- Maintaining VAT records on your behalf
- Advising your bookkeeping staff on VAT
- Preparing and filing VAT returns
- Arranging and facilitating VAT inspections
- Evidencing import and export sales
- Negotiating deferred payment plans with HMRC, if you have difficulty meeting the payment schedule
- Dealing with HMRC on appeals, rulings and special treatment.
Choosing the right VAT scheme
We can help advise you on the best VAT scheme, depending on the type of business you have, and the sector in which you operate.
Invoice vs. cash accounting
Traditionally, VAT is accounted on an invoice basis. Depending on your business model and cash flow. It may be beneficial to use cash accounting for your VAT calculations.
Flat rate scheme
Many small businesses with minimal Vatable expenses can benefit greatly from this scheme, even before they have reached the VAT turnover threshold
International and EC trade
For clients who trade in the EC, we also assist with the preparation of EC sales lists and intrastat fillings. We can advise on invoicing in foreign currency and ensure that you have the correct disclosure on your sales invoices.
“Farley took a very holistic approach in regard to my business, not only taking care of my end of year accounts, but also advising me on how to run my business more efficiently. He has helped me with various accounting issues and saved me paying too much tax.”