Submitting a VAT return for each VAT period (normally quarterly) is mandatory for all VAT registered businesses.

VAT returns summarise all of your business transactions that took place during the previous VAT period for the purpose of calculating how much VAT is due to be paid.

We prepare and submit your VAT returns for you. All you need to do is provide us with a record of your sales and purchases for the VAT period.

Costly penalties can be implemented by HMRC if your VAT return isn’t submitted on time

VAT schemes we deal with

An overview of what we’ll do for you:

  • Setting up your account correctly so submissions can be made online.
  • Ensuring your VAT return is calculated accurately and on time.
  • Submitting your VAT return online (or providing the figures for you to submit your own return).
  • Completing EC sales lists (ECSL) if you’re supplying goods and services to other EC member states

The Standard VAT Accounting Scheme means you pay VAT on your sales whether or not your customer has paid you and can claim VAT on your supplier invoices irrespective of whether you have paid them. While in cash scheme it is a VAT accounting based on the actual payment or receipt date.

With the Flat Rate Scheme:

  • you pay a fixed rate of VAT to HMRC
  • you keep the difference between what you charge your customers and pay to HMRC
  • you can’t reclaim the VAT on your purchases – except for certain capital assets over £2,000.

If you’re a VAT-registered business in the UK supplying goods and services to VAT-registered customers in another EU country, you must tell HM Revenue and Customs ( HMRC ) about those supplies. EC Sales List ( ESL ) is used to show these details of each of your EU customer.