VAT
If you are already VAT registered, ClearTax can calculate and submit VAT returns to HMRC on your behalf. Fees start from £150 +VAT per annum.
It is important to meet filing and payment deadlines as penalties can be due for late delivery. HMRC are planning to phase out paper VAT returns. From April 2010 all new businesses and those with a turnover above £100K will be required to file their returns online and make payments electronically. ClearTax can file online for you.
If you are setting up a company and need guidance on whether to register for VAT then ClearTax can advise on this. ClearTax can register your company for VAT. If your turnover (over the past 12 months) exceeds the registration limit (from 1/4/11 £73K) then you are required to notify HMRC and register for VAT; failure to do so can result in severe penalties.
ClearTax can also assist your company if you have any VAT issues, whether it is guidance on how to apply the correct VAT rate to whether the company should join one of the schemes available such as the Flat Rate Scheme. Please refer to the Tax Planning section for further details.