Managing your VAT, making timely submissions to HMRC, and ensuring you’re VAT compliant are essential for your business.

With 29 years of experience working with businesses large and small, Dickson and Co Chartered Certified Accountants’ expert, professional and knowledgeable team makes VAT simple and manageable, offering a range of VAT support to keep your company running smoothly.

Our comprehensive VAT services keep your business VAT compliant by accurately calculating and preparing your VAT return so you can file it on time and avoid expensive penalties.

We also support your bookkeeping and payroll needs, from keeping your VAT records up-to-date to advising on business expenses, payroll software VAT and employee benefits.

It’s easy to make a mistake with your VAT, so it’s a good idea to seek financial advice about anything you’re unsure of.

Get in touch with Dickson and Co Chartered Certified Accountants expert team, and we will help simplify your business’s VAT.

Here’s what we can do:

VAT returns - preparation and submission

A VAT return is a digital form showing the VAT you’ve charged on sales minus the amount you reclaimed on purchased items and services.

Your VAT return must be submitted electronically, usually every three months. All returns need to be filed on time to avoid late penalties.

Dickson and Co Chartered Certified Accountants/We can:

• Prepare your VAT return using the information you provide us.
• Make sure your VAT calculations are accurate, HMRC compliant and on time.

VAT advisory - calculation and adjustments

VAT is calculated by subtracting the amount you paid on goods and services from the amount you charged on sales.

If your business will have a VAT taxable turnover of £150,000 or less in the next 12 months, you can use the VAT Flat Rate Scheme to calculate your VAT.

For expensive business assets such as land, the Capital Goods Scheme (CGS) lets you stagger the VAT you reclaim on these items over several years. Sometimes, adjustments to CGS are needed to show how the use of the assets has changed over time.

Dickson and Co Chartered Certified Accountants/We can:

• Help with VAT payment calculations to keep your VAT accurate and compliant.
• Manage partial exemption adjustments and Capital Goods Scheme adjustments.
• Advise on the consequences of late VAT payments, including interest and penalties.

Bookkeeping, payroll and VAT

Your bookkeeping must accurately record all VAT payments made and received. If your VAT records aren’t accurate, there’s a good chance your VAT return won’t be either.

There are VAT requirements for your payroll, such as any VAT payments for payroll software. Make sure you understand the VAT obligations and rules before applying them to your payroll.

Dickson and Co Chartered Certified Accountants/We can:

• Keep your bookkeeping and payroll records up-to-date, so you have the right VAT information.
• Make sure your bookkeeping correctly shows VAT payments made and received as well as your HMRC VAT payments.
• Handle payroll VAT, including VAT on payroll software, business expenses and employee benefits.

Talk to Dickson and Co Chartered Certified Accountants, and get started with your VAT management today.