VAT Preparation Work

 

A VAT (value added tax) return is an important piece of documentation that is used to calculate how much VAT should be reimbursed or paid to HMRC. A VAT return should include;

• Total amount of sales made (without VAT) and the VAT charged on these sales
• Details of your purchases (without VAT) and the VAT that you have paid on these purchases, and can therefore reclaim

If your annual turnover is more than the VAT threshold you will have to fill out a VAT return. Returns are to be completed 4 times a year, online to HMRC. In completing a VAT return most businesses look to their bookkeeping systems for the information.

The team at Sheilds Associates are experts when it comes to VAT accounting.

After helping numerous clients in completing their VAT returns on time to HMRC, we understand what it takes and what is needed. Our accountants always strive to help clients in whatever way possible and therefore, will advise you not only on matters associated with VAT, but also any other financial queries you may have. We cover both business and personal accounting, so can guarantee the right team of people will be involved in your VAT accounting support.

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