VAT Returns

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Navigating VAT regulations can be complex and time-consuming. As a VAT specialist, LMAC Bookkeeping offers comprehensive VAT returns services to ensure your business remains compliant with all relevant regulations. 

LMAC Bookkeeping's VAT services include:

• VAT registration and deregistration
• Preparation and submission of VAT returns
• Advice on VAT planning and administration

Serving Worcester, Bromsgrove, and Kidderminster, Leanne takes the stress out of managing VAT so you can focus on running your business. 

With extensive experience in VAT; from flat rate VAT returns, to partial exemption VAT calculations, LMAC Bookkeeping can provide advice that will help keep your tax payments to a minimum.

As  a qualified, business tax accountant in Worcester, Leanne at LMAC Bookkeeping offers a client-centred approach to accounting and taxation. Managing VAT returns for self employed individuals and small business clients in Worcester, Kidderminster and Bromsgrove, she will take on a straightforward approach to the tax position of your business.

Committed to a pro-active approach in the interests of clients, and providing the highest standards of professional accounting services, you can trust LMAC Bookkeeping with your small business VAT management. 

Value Added Tax (VAT) is the tax you must pay when buying goods or services. If you are a business, you may be required to register for and collect VAT.

Businesses with a turnover of more than £85,000 (known as VAT registration threshold) must register to pay and add VAT on the products and services they buy and sell and pay this to HMRC when they file their quarterly return.

VAT in the UK is typically charged at:

• 20% on goods and services
• 5% is applied to some health, energy, heating, and protective products and services.
• 0% is applied to a range of products and services to do with health, building, publishing, and kids’ clothing.

You should be aware of the fact that VAT rates can change and bear this in mind when calculating VAT. By keeping up to date with the latest rate you can ensure that your invoices and accounts are accurate.  As your VAT returns accountant, Leanne can help you to get your sums right, regardless of the VAT rate.

The government gives your business a unique nine-digit number, prefixed with ‘GB’. Company numbers are only given to VAT-registered businesses and can be found on your registration certificate, which also outlines when your company passed the registration threshold and when your first VAT return is due. 

What is my VAT payment date?

If you need to check your VAT Return and payment deadlines, you can do this by signing into the Government Gateway and accessing your VAT online account.

Your VAT online account will provide you with the following:

• When your VAT Returns are due
• When the payment must clear HMRC’s account.

The submission and payment dates tend to be the same, and calculated one calendar month and seven days after the accounting period end.

Example: If your VAT period ends on March 31. Then, by May 7, you will have to pay the VAT owed. If paying by direct debit, payments are usually taken three days after the VAT return deadline.