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Managing VAT compliance is a significant task for any growing business in Kent and the surrounding areas. The regulations change frequently, and the transition to Making Tax Digital has made the process more technical.
VAT Returns for Businesses in South East Kent
Managing VAT compliance is a significant task for any growing business in the County of Kent. The regulations change frequently, and the transition to Making Tax Digital has made the process more technical. AFS Bookkeeping and Accountancy Services provides a comprehensive VAT service to ensure your records are accurate and submitted on time. We handle the calculations and the digital filing so you do not have to worry about HMRC penalties or surcharges.
Errors in VAT accounting can lead to significant financial issues for companies in the Kent area. We review your sales and purchases to ensure every transaction is coded correctly. This includes identifying items that are zero-rated or exempt and ensuring you only pay the tax you actually owe. Our team works with businesses throughout Kent to maintain clean digital records that satisfy all current tax laws.
Choosing the right VAT scheme can have a major impact on your business cash flow. We analyse your turnover and expenses to determine if the Flat Rate Scheme or Cash Accounting would be more beneficial for your specific circumstances. Many businesses in Kent find that the standard accounting method is not always the most efficient choice. We provide clear guidance on these options to help you keep more of your revenue within the business.
Our local presence in Deal allows us to offer a more personal approach to your tax affairs. We are available to discuss complex issues such as international trade or land and property VAT implications. We ensure your business in Kent stays ahead of any legislative changes. By delegating your VAT returns to us, you gain the peace of mind that an expert is overseeing your financial health.
You must register for VAT if your taxable turnover exceeds the current threshold of £90,000 over a rolling 12-month period. You can also register voluntarily if it benefits your business to reclaim VAT on your expenses. We help you monitor your turnover to ensure you register at the correct time.
Making Tax Digital is an HMRC initiative that requires businesses to keep digital records and use compatible software to submit their VAT returns. We are fully equipped to handle these digital submissions for your business. We can also help you transition from paper based systems to a digital platform.
Most businesses submit their VAT returns every three months to cover a specific accounting period. Each return and payment is usually due one month and seven days after the end of that period. We track these deadlines for you to ensure you never miss a submission.
Yes you can often reclaim VAT on goods you still have in your possession that were bought up to four years before registration. For services the limit is typically six months. We review your past records in Deal and Dover to ensure you claim everything you are entitled to.
If you discover an error on a past return you must disclose it to HMRC as soon as possible. Small errors can often be corrected on your next return while larger ones require a specific disclosure form. We assist businesses in Folkestone and Canterbury with these corrections to minimize potential penalties.
We can represent you during an HMRC VAT inspection to ensure the process runs smoothly. We help you prepare your records and answer any technical queries the inspectors may have. Having a professional accountant present often reduces the stress and duration of the visit.
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