Bookkeeping and VAT

Looking after the day-to-day

Two of the more common tasks we look after are bookkeeping and VAT. If the bookkeeping isn’t accurate, then the VAT is unlikely to be either.

‘Bookkeeping’ encompasses the everyday records; recording every bit of income and expense and ensuring there is the correct paperwork to satisfy HMRC. Accurate bookkeeping is useful for the business owner too as it enables them to quickly see where cash is being spent.  The bookkeeping records provide the basic information upon which all the other reports are built, so if these aren’t accurate then neither will the reports be.

Our bookkeeping services mean that you don’t have to worry about the little details, if you send us the paperwork (physically or electronically) then we can take care of the bookkeeping, setting you up on the cloud accounting systems we use and ensuring that data is processed accurately.

VAT registered businesses must submit information to HMRC on a regular basis, usually quarterly. Since the introduction of MTD (making tax digital) for VAT, it is no longer possible for business owners to fill in a paper return.  We are partnered with Xero which has the necessary infrastructure built in to make RTI filings a breeze.

With different tax rates depending on the type of expense, and a myriad of rules regarding what can and cannot be claimed by businesses, choosing the correct VAT rate can seem a bit of a minefield.  The VAT services we provide include VAT registrations, detailed VAT return reviews including checking transaction paperwork as appropriate, and VAT submission to HMRC.

• Set-up on cloud accounting software
• Day-to-day transaction recording
• VAT registration
• VAT return production, review and submission