VAT Returns Hemel Hempstead
VAT Returns in Hemel Hempstead
Here at Melwoods Chartered Certified Accountants, we pride ourselves on being ones of the leading accountancy firms offering VAT returns in Hemel Hempstead. Based in Hemel Hempstead, we are perfectly positioned to serve and work with clients throughout Hertfordshire. We have a team of VAT specialists who will ensure your return is submitted on time.
Over the years, we have worked with all types of businesses and industries throughout the Hemel Hempstead area. With our comprehensive VAT service, we can take care of everything for you from the initial VAT registration through to the completed returns.
If you’re based in Hemel Hempstead or any of the surrounding areas and are in need of VAT returns carrying out, then all you need to do is get in touch with Melwoods. We have years of experience carrying out VAT returns and we’ll ensure they are completed correctly and submitted on time. We work with businesses of all sizes, from small independent businesses to large companies.
Submitting Your VAT Return
Ensuring that your business meets VAT compliance can be complex and difficult to understand; even for those who’ve ran businesses for many years. VAT returns are complicated enough without the worry of investigations on top of it. The important thing to remember is that VAT returns need to be completed in full, correctly and submitted on time. This is where Melwoods can help, our team of specialists can handle all aspects of your VAT; taking the stress away from you.
Using your books or bookkeeping reports, we’ll complete your VAT return for you and can even submit in on your behalf. We ensure that all annual VAT returns are completed on time and accurately; helping to avoid any investigations and penalties. If you’re unlucky enough to be chosen for a VAT inspection, then you needn’t worry, our team of VAT experts will work with you to ensure the investigation runs smoothly and without any complications.
What’s Included In A VAT Return?
There are a number of things that need to be included in a VAT return to the HMRC. The things that need to be recorded during the 3 month accounting period for your VAT return are:
- Your total sales and purchases
- The amount of VAT you owe
- The amount of VAT you can reclaim
- What your VAT refund from the HMRC is
If you are VAT registered you need to fill in ya VAT return even when you don’t have VAT to pay or reclaim. For help with your return, please don’t hesitate to contact Melwoods and one of our team will be more than happy to assist you.
How We Can Complete Your Annual VAT Returns
At Melwoods, we specialise in VAT and our team will ensure your annual VAT return is completed on time. VAT can be complex to deal with and difficult to understand and that’s why we can take care of it for you. Whether you’re wanting to hand over your book and let us carry out the VAT return for you or if you’re wanting to learn how to carry out the return yourself, then we have you covered. We offer three main VAT return services which are:
- We can take care of your bookkeeping and from there, we’ll complete the VAT return for you
- Hand over your books before your VAT is due to be returned and we’ll submit the return for you
- Alternatively we can provide training, so you can complete your own VAT return
If you’re in need of assistance with your VAT or you’re worried that you might complete your return incorrectly or even worse, late. Then all you need to do is get in touch with Melwoods, our team of specialists will guide you through the VAT process to help ease your worries and we’ll work with you to complete your HMRC VAT return on time or we can take over the full returns process for you.
VAT Returns Explained
VAT stands for value added tax and it’s a tax that’s levied on sales of goods and services. Not all businesses need to be VAT registered and advisors or accountants will help you to understand if it’s required for your business. VAT returns are usually carried out every three months, and this needs to be completed whether you have VAT to pay or not. If you submit your VAT return and underpay on your value added tax, then an interest rate of 2.75% can be charged.
Additional VAT Services
In addition to returns, we also offer a number of other VAT services to our clients throughout Hemel Hempstead and Hertfordshire. Our company believes in providing a complete service, meaning you don’t need to worry about your VAT at all, because we’ll take care of it for you. Some of the VAT services we offer are:
- Application of VAT registration
- Advice on VAT schemes for suitable businesses
- VAT planning
- Dealing with any VAT disputes that the HMRC might raise
- Attendance of VAT inspections
Ensuring Your VAT Is Returned On Time
VAT Returns should be completed every 3 months and our team at Melwoods can take care of this for you. Using your books and value added tax registration number we’ll complete and submit your return for you. Using Melwoods means you don’t need to worry about underpaying on your VAT or late penalties. We have been offering our VAT returns service to customers in and around Hemel Hempstead for many years and have become well-known for the efficiency of our service.
Why Choose Us for VAT Returns in Hemel Hempstead?
At Melwoods, our team have been providing our VAT returns service to clients in and around the Hemel Hempstead are for many years. With years of industry experience and a team of fully trained professional, we’ll ensure your returns are submitted on time to help you avoid any penalty charges. Some of the reasons we think you should choose us for VAT return in Hemel Hempstead are:
- Offer a comprehensive range of VAT services
- Work with clients in and around the Hemel Hempstead area
- Team of trained VAT specialists
- Well-known for the VAT services we provide
- Work with all types of businesses, no matter how big or small they might be
Contact Melwoods Chartered Certified Accountants for VAT Returns in Hemel Hempstead
If you’re looking for a company that offers VAT returns in Hemel Hempstead, then look no further than Melwoods Chartered Certified Accountants. With our VAT return service, we can ensure yours in completed correctly and submitted on time; helping you to avoid any penalties. We offer a comprehensive VAT service covering everything from planning to returns and much more. Our team take the stress and hassle of returns away; and we’ll deal with everything on your behalf. When it comes to needing VAT returns in Hemel Hempstead or any of the surrounding areas, be sure to get in touch with Melwoods. One of our team are always on hand to help and assist.
Frequently Asked Questions About VAT Returns
What is a VAT return?
A VAT (Value Added Tax) return is a form that needs to be filed with the HMRC. Returns are usually submitted 4 times a year at 3-month intervals. The returns form will indicate how much VAT you need to pay. Businesses that aren’t VAT registered don’t need to file VAT returns.
What information do I need to provide to submit a VAT Return?
When you use Melwoods, you’ll need to provide your books and any financial information regarding transaction relating to your business, so we can complete the VAT return for you. The VAT return will include a number of things such as your total sales/purchases, the VAT you owe, the amount you can reclaim and what your refund is from the HMRC.
What is the VAT return deadline?
Your online VAT account will tell you when you return deadline is and what date the payment needs to clear with the HMRC. The deadline for submitting VAT returns to the HMRC is usually one calendar months and 7 days after the end of an accounting period.
How much does a late VAT return penalty cost?
VAT Returns needs to be completed on time or you’ll be recorded as defaulting. If you default payment you’ll enter a surcharge period, and the surcharge will depend on the turnover of the business and how many times you enter into a surcharge period. The HMRC can also issue penalties of a 100% of any tax under or over claimed if you deliberate mistake is made, 30% of an assessment if the HMRC sends a bill that’s too low and you don’t inform them within 30 days or £400 if you submit a VAT return, unless HMRC has told you you’re exempt from submitting your return online.
How do I arrange to have Melwoods of Hemel Hempstead to carry out my VAT Return?
If you’re based in or around the Hemel Hempstead area and are wanting Melwoods Chartered Certified Accountants to carry out a VAT return for you then all you need to do is get in touch with us. One of our team will go through the process with you and the information you need to provide us with so we can carry out and submit the return for you.
Can I reclaim VAT on a taxi receipt?
The answer is yes you can reclaim VAT on a taxi receipt. However, most taxi drivers are generally below the tax threshold and aren’t VAT registered. So if you’re planning on reclaiming VAT on a taxi receipt then it’s best to approach with caution.
Why should I register for VAT?
In some cases, you might be legally required to register for VAT. If you don’t comply then you could be fined. At Melwoods, we can provide advice and guidance as to whether you need to be or whether you should be VAT registered.
How often do I need to submit a VAT return?
In the UK, you’ll need to submit a VAT return every three months. These three months are known as the accounting period. During this time, you’ll need to retain certain records such as total sales and purchases, the amount of VAT you owe, the amount of VAT you can reclaim and what your VAT refund from the HMRC is. If you’re in need of help with your return, please don’t hesitate to get in touch with Melwoods.
What types of things can I claim on my VAT?
You can reclaim the VAT that you have paid for most goods or services, however you can’t reclaim if the goods or services that you sell are exempt from VAT. There are a number of things you can reclaim VAT on such as train tickets, insurance, bank charges and a number of other things. At Melwoods, we’ll help you to understand that you can reclaim VAT on.