VAT Returns

If your business is likely to have sales of more than £85,000 you may have to register for VAT. This means that on every sales invoice you must add 20% to your sale price. The 20% is then paid over to HMRC but after deducting any VAT that you have paid for goods and service you have bought in to your business. The VAT is paid to HMRC 30 days after the end of your VAT quarter.
To ensure that the VAT payable is correct, you must ensure that your accounting records are adequate. At Jays, using our expertise, we can breeze through your accounting records and produce the VAT return on time, every time leaving you to concentrate on your business.
We can also advise on alternative VAT accounting that may ultimately save your £000's in VAT savings. We also have the technical expertise to ensure that VAT complexities are correctly handled, thereby avoiding unnecessary VAT penalties and enquiries.
Not all businesses have to be VAT registered, but in some cases smaller business can profit significantly from VAT registration. We can assess your business and advise if it is worth your while to register your business.