If your business is registered for VAT, you will need to complete and submit regular VAT returns to HMRC.
These are usually set as quarterly returns, although in some cases it may be monthly or annually.
With this return, you will need to calculate how much tax is payable by your company to HMRC.
VAT payable is the sales tax amount charged to your customers minus the tax you have paid on materials and other expenses eligible for VAT reclaim. And this is where knowledge of exactly what expenses are eligible for VAT reclaim is vital, otherwise you could be paying too much.
We can ensure your VAT returns are compliant and correct, with all expenses accounted for so that you only pay what is owed.
For more information on this service, please contact
Telephone Annette on 01922 418111
or email firstname.lastname@example.org
Watch our video below which will show you in more detail how to understand flat rate VAT.