VAT Returns Middlesbrough

VAT Return Completion

With a team of VAT experts at our Middlesbrough office we have all your VAT needs covered. Having plenty of experience within the accounting industry, you can trust that our team of specialists can help with all your VAT Returns. We can carry out a review of the VAT profile of your business and work out which would be the best scheme for your business. We always aim to work closely with our clients to ensure that we give our all to ensure that we are helping to maximise your wealth and reduce your tax liability.

We can advise on the best VAT scheme option out of:

  • Flat rate scheme
  • Cash basis VAT scheme
  • Full/Invoice based scheme

If you are unsure if you are using the best VAT scheme the give us a call and we will be happy to advise.

Our VAT Return Service in Middlesbrough

At M. Wasley Chapman & Co we use a number of methods to help our clients in and around Middlesbrough complete their VAT returns. The methods we use are:

  • We do your bookkeeping and then complete your VAT return as part of the bookkeeping service.
  • You manage your own bookkeeping then hand them over and we’ll complete the VAT return for you.
  • We can provide training, so you can complete the VAT return yourself.

When you choose us to assist in your VAT return, we’ll provide a highly professional and efficient service to ensure your VAT returns are completed within good time, helping you to avoid any penalties or a stressful VAT investigation.

 

Reclaiming VAT

Whether you are in need of VAT reclaims, for individual or business purposes, you can be assured that our team at Wasley Chapman will be able to tend to your every need. In most cases, you are likely to reclaim VAT on items that you have purchased while working. If the purchase is for an individual’s use, you can only claim back the VAT that have been used for business. It is important that you keep hold of records of purchase for your business-related items, as this will help us when it comes to supporting your claims. An accounting period will usually run in a cycle of 3 months.

The VAT Return records things for the accounting period such as:

  • your total sales and purchases
  • the amount of VAT you owe
  • the amount of VAT you can reclaim
  • what your VAT refund from HMRC is

You must submit a VAT Return even if you have no VAT to pay or reclaim.

You cannot reclaim VAT for:

  • anything that is only for private use
  • goods and services your business uses to make VAT-exempt supplies
  • business entertainment costs
  • anything you have bought from other EU countries (you may be able to reclaim VAT charged under the electronic cross-border refund system)
  • goods sold to you under one of the VAT second-hand margin schemes
  • business assets that are transferred to you as a going concern

 

Contact M. Wasley Chapman & Co for VAT Returns Assistance

If you are based in Middlesbrough and need assistance with completing your VAT Returns, then make sure that you get in touch with M. Wasley Chapman & Co. Our experienced accounting team are capable in assisting in a range of VAT related services.

We also cover; Guisborough, Redcar and Saltburn, Whitby and Scarborough.

Free Consultation

For more information get in touch today.

 

Frequently Asked Questions About VAT

What is VAT?

VAT stands for Value Added Tax. If you are VAT registered, you need to add 20% on top of whatever you sell.

Can I reclaim VAT?

You can sometimes get VAT refunds on goods bought in the UK if you:

  • visit the UK but live outside the EU and are going back home
  • are an EU resident leaving the EU for 12 months or more
  • are a non-EU resident but work or study in the UK and are leaving the EU for 12 months or more

You can usually reclaim the VAT paid on goods and services purchased for use in your business. If a purchase is also for personal or private use, you can only reclaim the business proportion of the VAT.

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