Bookkeeping & VAT

Bookkeeping & VAT

As a small business, we understand the challenges of running a business and we know how valuable your time is. We can help lighten the load when it comes to administration and ensure the decisions you make are based on up to date and accurate information, by assisting you with your bookkeeping.

Our service is designed to fit each client’s needs, and as such we describe it as a tailored and bespoke service. We can assist as much or as little as you like, whether you need someone to prepare a VAT return from your bookkeeping or you need a whole new bookkeeping procedure designing and implimenting. We even provide training with ongoing support for clients who want to do you bookkeeping in house but may not yet have the confidence to do it on their own. We are happy to assist with reviewing and tidying bookkeeping records at the year end and prepare a “year end pack” for the accountant to cut down the work required of them, resulting in lower accounts fees.

VAT

As qualified and experienced accountants we are trained to identify the latest VAT and benefits in kind issues and tax planning opportunities. We can help you in the event of a routine VAT inspection, and can use our experience to highlight issues that may lead to increased risk of triggering a VAT inspection.

In the event of a random VAT inspection we have an excellent record of dealing with HMRC, and we hold inspections at our offices to minimise the impact on the day to day running of your business. We ensure that our bookkeeping procedures exceed HMRC’s expectations, which reduces the time it will take to review the records and further minimising the inconvenience should HMRC carry out a routine inspection.

We can provide assistance and support with a wide range of VAT issues, simple and complex, including

  • VAT returns
  • EC sales lists and intrastat returns
  • VAT partial exemption
  • Second hand goods and other VAT schemes
  • VAT registration and deregistration
  • VAT inspections
  • VAT investigations

Management Accounts

As well as satisfying your business’ statutory obligations, the historical data produced as part of the bookkeeping process can provide an insight into your business and assist in decision making and planning. In addition to our standard bookkeeping service we can assist you in interpreting management data and in improving the quality and accuracy of the data to benefit business planning and forecasting. We can make sure your business is getting the most out of its bookkeeping instead of just seeing it as lost time and money.

Many businesses, small and large, would benefit from systems reviews and assistance with planning and forecasting. Amongst the benefits are

  • Improved cash flow forecasting and planning for investment and growth
  • Budgeting for tax liabilities, dividends and other significant costs
  • Identifying risk areas to the business, including regulatory risks and financial risks
  • Ensuring record keeping systems meet HMRC requirements
  • One off reports to assist with financial and taxation affects of major business decisions

If you’d like to know more about how your business can benefit from our bookkeeping and VAT services, contact us now to arrange a free one-hour consultation.