VAT
Our VAT expertise enables us to offer a unique blend of technical knowledge and practical experience. At Keirstone, our delivery approach ensures that the specific needs of your business are always our primary priority. We understand that Value Added Tax is one of the most complex and burdensome taxes for any organisation to manage, which is why we provide a proactive service to keep you ahead of regulatory changes.
We work with a diverse range of owner-managed businesses, ranging from freelancers and contractors to large, complex organisations.
Regardless of your scale, our goal is to simplify the VAT process, ensuring your business remains compliant while identifying every opportunity to improve your cash flow.
A VAT Return to HM Revenue and Customs (HMRC) is normally completed every 3 months.
The VAT Return records things for the accounting period, like:
- Your total sales and purchases
- The amount of VAT you owe
- The amount of VAT you can reclaim
- What is your VAT refund from HMRC
- Providing the business is registered for VAT, you must submit a VAT Return even if you have no VAT to pay or reclaim.
Even if your business has no Value Added Tax to pay or reclaim, a VAT Return must be submitted if you are registered for VAT.
In today’s economic and regulatory landscape, compliance and timely access to expert advice are crucial for businesses.
At Keirstone Limited, we work closely with our clients to ensure they remain compliant and receive the guidance they need to thrive. This proactive approach helps businesses navigate the complexities of VAT with confidence.
Navigating the Complexity of VAT Returns
A VAT Return is a formal report typically submitted to HM Revenue and Customs (HMRC) every three months. This document records the essential financial activity for your specific accounting period, including:
- Total Sales and Purchases: A comprehensive record of your business transactions.
- VAT Liabilities: The total amount of VAT you owe to HMRC on your sales.
- VAT Reclaims: The amount of VAT you are entitled to reclaim on your business-related purchases.
- VAT Refunds: Calculating whether your business is due a refund from HMRC for an overpayment of input tax.
It is important to remember that if your business is registered for Value Added Tax, you are legally required to submit a return even if you have no Value Added Tax to pay or reclaim for that specific period. Failure to do so can lead to automated penalties and increased scrutiny from the tax authorities.
Specialist Guidance in a Changing Regulatory Landscape
In the current economic and regulatory landscape, compliance and timely access to expert advice are more crucial than ever. With the full implementation of Making Tax Digital (MTD), businesses must now use functional compatible software to keep digital records and submit their returns.
We work closely with our clients to ensure they remain fully compliant with these digital requirements. Our proactive approach helps businesses navigate the complexities of VAT with total confidence. We provide specialist guidance on:
- VAT Registration and Thresholds: Advising on when your turnover necessitates compulsory registration or when voluntary registration would be financially beneficial.
- Partial Exemption: Managing the complex calculations required for businesses that make both taxable and exempt supplies.
- International Trade: Navigating the post-Brexit rules for importing and exporting goods and services to and from the UK.
- HMRC Inspections: Providing professional representation and support during rigorous HMRC VAT investigations.
Why Choose Keirstone as Your VAT Partner?
What truly sets us apart is our commitment to adding value. We do not just process numbers; we look for ways to optimise your tax position. As Xero Partners, we utilise the latest accounting technology to provide real-time insights into your VAT position, ensuring there are no surprises when your payment becomes due.
By outsourcing your VAT management to Keirstone, you gain a dedicated manager who understands your industry and the specific challenges you face. This personal attention, combined with our technical depth, ensures that your VAT affairs are handled with the highest level of professional care.
Are you looking for a specialist VAT accountant to take the stress out of your compliance?
Contact Keirstone today to find out how our expert VAT services can help your business thrive.
Why choose Keirstone Accountants?
Start Up Specialists
Our services are crafted with the unique needs of startups and scaleups in mind. From day one to IPO, we’re here for every step of your financial journey.
Risk Free Scaling
Start with what you need and expand as you grow. Our scalable bookkeeping solutions provide real-time insights for smooth, sustainable growth.
Transparent Pricing
No hidden fees or surprise bills. Our clear, upfront pricing means you always know what you’re paying for, giving you confidence and control over your financial planning.
Tech-Forward
As Xero Partners, we’ll help you to utilise the latest in accounting tech for seamless integration and real-time insights, helping you stay ahead with minimal effort.
Dedicated Manager
Fixed Pricing
24/7 Access To Financials
No Hidden Terms
