For a simple guide to all UK Taxes, including VAT click here
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If you are registered for VAT one of the
recurring nightmares can be the preparing of your VAT return. In principle, it should be a simple matter,
particularly if you have established proper routines for recording the
transactions. However, there are so many special schemes and special rules,
as explained in our VAT
guide that it is very easy to get it wrong. The problem is that even small errors can
produce large monetary differences, because the errors might be being
repeated and applied to many transactions. Also, the penalties for getting it
wrong can be quite high. It is often wise to seek professional help. If proper systems are designed and
followed, then the VAT records can also be of assistance in preparing annual
accounts. This therefore means that if the professional services of Peter
Brown & Co are used to maintain your basic records and prepare your VAT
return, it can lead to savings in the cost of preparing annual accounts. Often, for many businesses the cost of
preparing a VAT return each quarter can be relatively low when measured
against the reduction in annual accountancy fees that can result |
Peter Brown & Co is a trading name
of Undershot Ltd, registered in England , no 4114468. Director :- P.Brown FCCA, FCIE,DchA,BSc.The registered
office is Acomb Grange, Grange Lane, York, YO23 3QZ.
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