Accounting for VAT
VAT returns can be problematic for many small and medium-sized businesses. Value added tax (VAT) is a tax which is charged on most goods and services provided by VAT registered businesses. VAT can be reclaimed when purchasing products and services for your business.
At Low Cost Accounts, our team of qualified accountants are well versed in VAT accounting for small and medium-sized businesses. We will look at the nature of your business to determine which is the best VAT scheme for your business ie
- Flat rate scheme
- Cash accounting
- Invoice accounting
We will also ensure that all recoverable VAT is claimed and that your returns are completed on a timely basis.