Key areas we advice on includes
VAT
I. Schemes
We would advise most suitable vat scheme for your business out of the followings:
Standard Scheme
Annual Accounting Scheme
Cash Accounting Scheme
Flat Rate Scheme
Margin Schemes
Retail Schemes
II. Deadlines and surcharge
The deadline for submitting the return online and paying HMRC are usually the same - 1 calendar month and seven days after the end of an accounting period.
You may enter a 12-month ‘surcharge period’ if you default. If you default again during this time:
Defaults within 12 months
● Surcharge if annual turnover is less than £150,000 0% to 15%
● Surcharge if annual turnover is £150,000 or more 2% to 15%
III. Penalties
HMRC can charge you a penalty of up to:
● 100% of any tax under-stated/over-claimed if you send a return that contains a careless or deliberate inaccuracy
● 30% of an assessment if HMRC sends you one that’s too low and you do not tell them it’s wrong within 30days
VI. Our Fees
Our fees start from £105 per month for VAT and bookkeeping services.