Book-Keeping and VAT

Admin

Bookkeeping and VAT returns go hand in hand in the preparation of the annual accounts. Therefore it may be more cost effective than you might think for us to provide these services as much of the work for the year end accounts will already have been completed.

Book-Keeping

We have found from experience that many clients using off the shelf accounting packages obtain few benefits from using these costly systems. A little knowledge can be a dangerous thing, and without a thorough understanding of the both the software and bookkeeping procedures clients can often make preparation of the year end accounts harder for us.

We would therefore recommend that you let us deal with the headache of book-keeping. You might be surprised to learn that often we can provide all your bookkeeping needs at a similar cost to purchasing and maintaining a software package such as Sage.

VAT

Value added tax is a complex tax regime and mistakes are often made resulting in overpaid or underpaid VAT. With HM Revenue & Customs increasing the frequency of VAT enquiries and the potential for fines and penalties applicable, it makes sense to have our professional guidance in this area.

In the process of completing your VAT returns we can provide advice on the most appropriate VAT scheme for your business, such as a flat rate scheme or retail scheme, and whether to use an invoiced based approach or a cash accounting approach.