Home / VAT Return Service
Updated on : 23-Dec-2024 11:19 AM GMT | 4 min read
What is a VAT Return?
A VAT return is a return prepared & submitted by the VAT registered businesses to show HMRC how much they owed or how much amount is due as a tax refund. VAT refund can be submitted monthly, quarterly or on annual basis to HMRC.
VAT charged on your sales - VAT you can reclaim on business expenses = your VAT return
Every business having turnover of more than £85000 has to mandatorily register for VAT and for every VAT registered business, it is mandatory to prepare and submit VAT returns to HMRC before the deadline.
Preparing & submitting VAT returns to HMRC is quite a difficult task especially for small businesses that are having less time and resources. Penalty amount imposed by HMRC in case of non-filing/late filing are also quite high. Therefore, we recommend that every VAT registered business should take a help from professionals like us who not only help small businesses in preparing & submitting VAT returns but also helps in claiming VAT refunds.
We review your financial information, analyze your VAT transactions and submit the correct amount of VAT return to HMRC. We also advice you in going forward, if you are filing your first VAT return and want an accurate solutions to your queries.
What we offer?
How Finacbooks help in HMRC VAT Return Filing?
Finacbooks is a leading UK portal providing accounting, finance & taxation services to freelancers, contractors, consultants and small businesses. We are having more than 10 years of experience helping freelancers, contractors, consultants & small businesses in offering VAT return service. We will guide you through the entire process of VAT return. To avail the best deals on VAT return, kindly call us at 03300886645 or you can also e-mail us at business@finacbooks.com
VAT Return Service FAQs
The exceptions on which you cannot reclaim your VAT are as follows –
- On Purchases in case you are using the VAT flat rate scheme
- Entertainment expenses
But there are special rules defined by HMRC to reclaim VAT on cars, staff travel expenses, businesses that are partly exempt from VAT.
