If you’re just starting out, we can help you decide whether you need to be VAT registered from the outset or not. And we will continue to monitor your situation, so that should it become obligatory for you to register for VAT, we can deal with all of the paperwork for you.
In contrast, we will also monitor your position for when we think you are able to and would benefit from deregistering.
Whether a new or existing business, we will also look at the VAT schemes you are eligible for and establish whether you would be better off adopting one or a mixture of them. Some VAT schemes can lead to tax savings and a reduction in bookkeeping responsibilities.
We can prepare your VAT return; either from your own bookkeeping records or we can take care of your record keeping and the VAT return. And we will try to ensure that you claim as much VAT as possible, particularly on contentious items such as mixed-use expenditure and motor running costs.
As with other areas of tax, we can act as your Agent for VAT purposes and therefore correspond with HM Revenue & Customs (HMRC) on your behalf. Paper VAT returns are pretty scarce now but our software also allows us to file your VAT returns online with HMRC.
Needless to say, late VAT registration, errors, late VAT returns and late VAT payments can all lead to penalties and possibly interest being charged. So, allowing your Accountant to take care of your VAT affairs, not only gives you peace of mind, but it should also avoid you wasting your hard-earned cash on penalties and interest.
VAT returns can be challenging for a VAT registered business. Fortuous can help with the preparation, review and submission of simple or complex VAT returns. Returns can be submitted under a variety of schemes and with varying frequencies. Our service will make sure to take out the hassle, complications and risk from your VAT return process.
Fortuous provides VAT health check services for your business which is designed to find issues before the VAT man does. We just made it easier for you.
Fortuous takes the best advantage of the reliefs available and the interpretation of the regulations. We understand how intense investigations of the HMRC can be.
We can help you to determine if VAT registration is required for your business. If you are thinking about voluntary registration, we can also review if it will save your business money or provide benefits in the long term for growth.
Your VAT registration and review will be done by us while addressing all your concerns and covering all key checks.