Value Added Tax (VAT) is often a pain point for many organizations. It goes beyond adjusting a few prices. The potential for error is high, considering the responsibilities you must bear, such as:
- Accurately tracking the amount of VAT you pay on purchases made for your business.
- Ensuring that any owed VAT is paid to HM Revenue and Customs (HMRC).
- Making allowances for whatever VAT may be charged on goods you import into the UK.
- Pricing all your goods and services to include VAT at the correct rate.
An accountant in Epsom can help you to minimize errors and optimize the underlying processes.
Why Should an Accountant in Epsom Be a Part of Your VAT Strategy?
First, you will get assistance with the registration process. If your VAT taxable turnover exceeds £90,000, registration is mandatory. Additionally, expect to get expert advice on the most appropriate scheme for your planning and administration needs. VAT return completion and filing are also handled on your behalf, as they form a part of your control and reconciliation efforts.
An accountant in Epsom can also take you through a comprehensive planning process to reduce the likelihood of any problems with HM Revenue and Customs. However, should there be any HMRC disputes, you will have the required expertise for negotiation on your side.
What Is the Next Step?
If you want to avoid the pitfalls that make VAT a hassle for organizations, retain the expert services of David Beckman & Co Ltd. Whether the requirement is planning, tracking, filing, or anything in between, no stone will be left unturned.
