With the rollout of Making Tax Digital (MTD), businesses can now streamline their tax processes, reduce errors and stay compliant with HMRC regulations by using digital record-keeping and online tax submissions. It is good practice to go beyond just ‘being compliant’ - taking the time to double check the details, ensuring that you are reclaiming as much VAT as possible and also paying the correct amount.
Have you been given the correct information on the flat rate VAT scheme? Switching schemes could save you £££’s on your VAT bill, meaning more money in your pocket.
Have you lost a receipt for a large purchase that you made a few weeks ago? We will work hard to hunt down a copy so that you can reclaim correctly. (Remember, you cannot reclaim VAT without a valid VAT invoice or receipt)