VAT Accountants for Small Businesses
VAT without the headache
VAT returns, registration, deadlines and changing VAT rules can be a pain to deal with.
Liburd Gallagher Accountancy provides straightforward VAT services for limited companies, sole traders and other small businesses. We can deal with your VAT returns, help you register for VAT, check that you’re charging the right amount and make sure your VAT records are kept properly.
You run the business. We’ll deal with the VAT.
Get a Quote | Call 020 7088 8141
VAT services for small businesses
Whether you’re already VAT registered or you’re approaching the registration threshold, we can help.
Our VAT service can include:
Preparing and submitting VAT returns
VAT registration
Checking VAT calculations
Reviewing VAT records
Advice on VAT rates
VAT on expenses and purchases
VAT on sales and invoices
Flat Rate Scheme advice
Making Tax Digital for VAT
Dealing with VAT queries
Help correcting VAT errors
General VAT advice
We can also combine your VAT service with bookkeeping, accounts and your wider accountancy package.
Do I need to register for VAT?
Not every business needs to register for VAT.
You normally need to register when your taxable turnover exceeds the VAT registration threshold, although there are circumstances where voluntary registration may make sense before you reach the threshold.
The rules around VAT registration can be confusing, particularly if your turnover is approaching the threshold or you have different types of income.
If you’re unsure whether you need to register, we can look at your circumstances and explain your options.
Don’t wait until you’ve accidentally gone over the threshold.
VAT registration
If your business needs to register for VAT, we can help you through the process.
We’ll look at your turnover, the type of business you operate and the nature of your sales and purchases.
We’ll also discuss which VAT accounting method or scheme may be appropriate for your business.
Once you’re registered, we can deal with your ongoing VAT returns as part of your accountancy service.
Preparing and submitting your VAT returns
Your VAT return needs to accurately reflect the transactions of your business.
We’ll use your bookkeeping records to calculate the VAT you’ve charged and the VAT you may be able to reclaim.
We’ll then prepare and submit the return to HMRC.
If there’s anything unusual or something doesn’t look right, we’ll raise it with you rather than simply submitting figures we don’t understand.
Your VAT return can cover:
VAT on sales
Making sure VAT charged to customers is correctly recorded.
VAT on purchases
Identifying VAT that can potentially be reclaimed.
VAT rates
Checking that the correct VAT treatment has been applied where different rates apply.
VAT payments
Helping you understand how much VAT is due and when it needs to be paid.
VAT and bookkeeping
Good VAT returns start with good bookkeeping.
If your bookkeeping is incomplete or transactions have been recorded incorrectly, your VAT return can be wrong too.
That’s why we can combine your bookkeeping and VAT services.
We’ll keep your records up to date and use them to prepare your VAT returns.
This means you don’t have to maintain your books for one provider and then send everything somewhere else for your VAT return.
One set of records. One accountant.
If you need help with your bookkeeping, see our [Bookkeeping Services] page.
Making Tax Digital for VAT
If you’re VAT registered, you may already be required to follow Making Tax Digital for VAT rules.
This generally means keeping digital records and submitting VAT returns using compatible software.
We can help make sure your bookkeeping and VAT process works with Making Tax Digital requirements.
If you’re using software such as QuickBooks or Xero, we can work with your existing system.
You don’t need to become a technology expert just because you’re VAT registered.
We can deal with the accounting side of it.
VAT schemes
There are several VAT schemes and accounting methods available to businesses.
The right approach depends on your circumstances.
Standard VAT accounting
VAT is normally accounted for based on the VAT on your sales and purchases during each VAT period.
Flat Rate Scheme
The Flat Rate Scheme uses a fixed percentage based on your business type to calculate the VAT you pay to HMRC.
It isn’t automatically the best option for every business, so it’s worth checking the numbers before choosing it.
Cash Accounting Scheme
Under the Cash Accounting Scheme, VAT is generally accounted for when you receive payment from customers and when you pay your suppliers.
This can be useful for some businesses where cash flow is important.
Annual Accounting Scheme
The Annual Accounting Scheme can reduce the number of VAT returns you submit during the year, although it isn’t suitable for every business.
We’ll explain the options and help you understand what they mean for your business.
VAT on expenses and purchases
One of the common questions we get is:
“Can I claim the VAT back on this?”
The answer depends on what you’ve purchased, how it is used and the VAT rules applying to that expense.
We’ll help you identify which expenses can potentially be included on your VAT return and make sure your records support the claim.
This can be particularly important for things like:
Business equipment
Professional services
Stock and materials
Business premises
Software and subscriptions
Business travel
Motor expenses
If you’re unsure about an expense, ask us before assuming the VAT is either claimable or non-claimable.
VAT on cars and vehicles
VAT treatment for cars and commercial vehicles can be particularly complicated.
The amount of VAT you can recover can depend on how the vehicle is used, whether it is leased or purchased and whether there is any private use.
If you’re considering buying or leasing a vehicle through your business, it’s worth getting the VAT position checked before you make the purchase.
We can also look at the wider tax implications alongside the VAT treatment.
VAT errors and late returns
VAT mistakes do happen.
You may discover that a previous VAT return contained an error, or you may have missed a deadline.
The important thing is to deal with the problem rather than ignore it.
We can review what happened, explain what needs to be corrected and help you deal with HMRC where necessary.
If your VAT records are already behind, we can also help bring them up to date.
Found a VAT problem? Talk to us before it becomes a bigger one.
VAT for limited companies
If you run a limited company, VAT is usually only one part of your accounting requirements.
We can combine your VAT service with:
Annual Accounts
We’ll prepare your company’s year-end accounts.
Corporation Tax
We’ll calculate your taxable profit and prepare your Corporation Tax return.
Bookkeeping
We’ll keep your financial records up to date so your VAT returns and accounts are based on accurate information.
Payroll
We can deal with director and employee payroll as part of your wider limited company accountancy service.
Director’s Self Assessment
Where required, we’ll also deal with your personal tax return.
Having everything handled by the same accountant means you don’t have to keep sending information between different providers.
VAT for sole traders
If you’re self-employed, VAT may become relevant as your business grows.
We can help with VAT registration, VAT returns and keeping your records in order, while also dealing with your Self Assessment tax return.
If you’re approaching the VAT registration threshold, it’s worth talking to us before you reach it so you understand what registration will mean for your business.
How our VAT service works
1. We understand your business
We’ll look at what you sell, who you sell to and how your business operates.
2. We check your VAT position
If you’re not registered, we’ll establish whether you need to register and discuss your options.
If you’re already registered, we’ll review your current VAT arrangements.
3. We keep your records up to date
Where bookkeeping is part of your service, we’ll maintain the records needed for your VAT returns.
4. We prepare your VAT return
We’ll calculate the VAT due or reclaimable and prepare the return.
5. We submit it to HMRC
We’ll deal with the submission and tell you what needs to be paid and when.
No last-minute VAT panic.
Why use Liburd Gallagher for VAT?
An accountant you can actually get hold of
VAT questions don’t always wait until your next annual accounts appointment.
We’re a small accountancy practice, so if you have a question, you can speak to us.
VAT and accounts under one roof
Your VAT figures feed directly into your wider accounting and tax work.
Straightforward advice
We’ll explain what the VAT rules mean for your business without drowning you in accounting jargon.
Practical support
We’re not here simply to submit a VAT return and disappear.
If something changes in your business or you’re considering a major purchase, you can ask us about the tax and VAT implications.
How much does a VAT accountant cost?
VAT fees depend on the amount of work involved.
The main factors are usually:
How often your VAT returns are required
The number of transactions
Whether we also handle your bookkeeping
The complexity of your VAT position
Whether you’re also using us for your accounts and tax
For many limited company clients, VAT is simply included within their wider accountancy package.
We’ll give you a clear quote based on what your business actually needs.
No confusing hourly bills. No unexpected extras.
Already behind with your VAT?
If your VAT returns are overdue or your bookkeeping is several months behind, don’t ignore it.
The longer you leave it, the harder it can become to work out what has happened.
We can review your records, identify what’s outstanding and help get things back on track.
Behind with your VAT? Give us a call.
020 7088 8141
Frequently asked questions
Do I need to register for VAT?
You normally need to register if your taxable turnover exceeds the VAT registration threshold. There are also circumstances where you can register voluntarily.
If you’re approaching the threshold, we can help you work out whether and when you need to register.
Can you register my business for VAT?
Yes. We can help with the VAT registration process and advise you on what happens once you’re registered.
Can you do my VAT returns?
Yes. We can prepare and submit your VAT returns and deal with the underlying bookkeeping where this is part of your service.
Can you do VAT and bookkeeping together?
Yes. Combining the two can make things considerably simpler because the same records are used for both.
Do you deal with Making Tax Digital for VAT?
Yes. We can help ensure your bookkeeping and VAT process meets the relevant Making Tax Digital requirements.
Can you help if I’ve made a VAT mistake?
Yes. We can review the error and explain what needs to be done to correct it.
Can I claim VAT back on business expenses?
Potentially. Whether VAT can be reclaimed depends on the expense and the circumstances. We’ll help you understand what can and cannot be claimed.
Can you deal with VAT for a limited company?
Yes. VAT can be included alongside your company’s accounts, Corporation Tax, bookkeeping and other accountancy services.
Can you deal with VAT for a sole trader?
Yes. We work with sole traders who are VAT registered or need help deciding whether VAT registration is appropriate.
Do you offer VAT advice as well as VAT returns?
Yes. If you’re considering registering for VAT, changing VAT schemes, making a significant purchase or dealing with a VAT issue, we can advise you on the implications.
Need help with your VAT?
Whether you need to register for VAT, submit your returns, sort out a VAT problem or simply want an accountant to take care of it for you, we can help.
We’ll explain what you need, what we’ll handle and how much it will cost.
Get a Quote
020 7088 8141
Liburd Gallagher Accountancy — VAT without the headache.