Why Xero Experts?
Why Xero Experts?
What is VAT? And Are You Required to Pay It?
The Value Added Tax (VAT) is the tax you must pay when purchasing goods or services. If you run a business, you may very well be obliged to register for and collect VAT. This is a tax that businesses must file for every year as part of their annual return.
If you run a business and make over £85,000 a year from sale, you’ll need to register with HM Revenue and Customs (HMRC) and pay VAT. You’ll have to submit your VAT returns to HMRC on a monthly, quarterly, or yearly basis. The return shows how much VAT you collected from sales and how much you spent on VAT. If you’ve collected more VAT than you spent, you’ll need to pay the difference to HMRC. But if you spent more VAT than you collected, HMRC will reimburse the difference.
Xero Experts can help you file your VAT return on time, every time
VAT can seem like a complicated topic, but in all honesty, it’s just a matter of gathering the right information, staying organized, and paying attention to the details.
If you’re struggling to stay on top of your VAT filings or want a little extra help, Xero Experts can help. With our services, you can be confident that your VAT returns will be filed on time and in accordance with HMRC guidelines and MTD requirements.
Here at Xero Experts, we have a team of VAT specialists ready to help you with your VAT return. We have the knowledge, experience, and expertise to provide you with the best advice on VAT. We understand the importance of working with HMRC on return filing and accounting so that you can get back to running your business.
Our Xero VAT Return Service will include the following
- VAT calculations
- VAT account preparation
- Checking for eligibility of VAT claims
- Making Tax Digital and general VAT advice
- Postponing VAT returns
- VAT summary and reporting
- VAT reverse charges
- Online VAT filing to HMRC via Xero
- VAT registration/de-registration
- Deal with HMRC on your behalf
- Submission and Calculation of VAT returns to HMRC
- Support for the VAT Flat Rate Scheme
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