Value Added Tax (VAT) is a particularly complex tax and many businesses under or over pay VAT as a result. Our specialist team of tax accountants here at Elsby & co, can guide you through the VAT maze, offering professional advice and assistance with all aspects of VAT planning.

Our VAT services include:

Assistance with VAT registration

It is important to be VAT registered as this helps HMRC to charge you the right amount. The VAT registration process is where you list your business with the Government as active in production and sales. If you require assistance with VAT registration, please contact us today and we can help you through the process.

Advice on VAT planning and administration

There are some simple ways that you can ease your VAT cashflow and make VAT rules work for you. Not planning for VAT and doing administrative work can be costly for businesses, our advisors can offer expert guidance on VAT planning and administration, speak to us today.

Use of the most appropriate accounting scheme

There are a few different VAT accounting schemes available, from flat rate VAT to limited cost trader, and the reverse charge VAT scheme, and many more. Our tax advisors know the different VAT accounting schemes well, and can advise you on the most appropriate scheme for your business.

VAT control and reconciliation

VAT control reconciliation is a process in which you check the transactions included in your VAT return against the vatable transactions in the sales, purchase and nominal ledgers. The purpose of a VAT reconciliation is to ensure that the actual amount of money spent matches the amount that has left the account during that fiscal period. It is good practice to perform this process at regular intervals to check for errors or fraudulent transactions and activity. The Elsby & Co team can help with VAT control and reconciliation, please give us a call today.

Help with completing VAT returns

VAT returns are typically submitted every 3 months to HMRC. A VAT return form records everything within an accounting period, such as total sales and purchase, the amount of VAT a business owes, the amount of VAT a company can reclaim, as well as what the VAT refund from HMRC is. If you need assistance in completing VAT returns, our tax advisors can help; don’t hesitate to contact us.

Other VAT advice services

Here at Elsby & Co we can help with a wide range of VAT advice services, from the ones listed above, to also helping businesses and individuals with planning to minimise future problems with HM Revenue and Customs (HMRC). In conjunction with this, we can also help in negotiating with HM Revenue and Customs in disputes and representing you at VAT tribunals.

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