VAT (value added tax)
A recent survey of business owners has revealed that VAT is considered to be the most complex tax regime imposed on a business.
As VAT is a self assessing tax, the onus is on the taxpayer to ensure that the correct amount of VAT is being declared on VAT returns. HMRC have also recently declared that they will be targeting VAT registered businesses to ensure that VAT is being correctly accounted for. Any error can lead to a penalty from HMRC.
At Keystone Chartered Accountants, our VAT services include:
– Assistance with VAT registration
– Analysis of the most appropriate VAT scheme for your business
– VAT control and reconciliation to ensure VAT is calculated correctly
– Completion of VAT returns and online filing