VAT Returns

Businesses must register for VAT if they go over the threshold established on their VAT taxable turnover. You might choose to register voluntarily if your business turnover is below this threshold. Businesses that are not VAT-registered cannot reclaim any VAT they have paid, so you may also choose to register if you think this will be advantageous to you.

VAT registered companies have by law to submit VAT returns which will show how much VAT is owed by a business, or the amount to be refunded.

At EKMA Accountants, we will guide you through VAT accounting, including how to select and use accounting software which is compliant with HMRC’s Making Tax Digital (MTD) initiative.

We will work on your accounts while you can focus your time on your day-to-day business, with absolute peace of mind and making sure you are optimizing your tax position.

We will also deal with all VAT inspections and queries from HMRC and discuss your options and the best schemes for your business.