VAT
VAT or Value Added Tax, is a tax that applies to most business transactions that involve the transfer of goods or services. Once your business turnover reaches a certain level, you will have to register for VAT. This means that whenever you buy or sell anything in the course of your business, you will have to charge VAT on your sales, keep proper VAT records on your incoming and outgoing transactions and pay VAT to HM Revenue & Customs (HMRC).
Value added tax can be so complex that many businesses either overpay or underpay on VAT. Kelly & Co can address the need for a trained professional eye when it comes to VAT - making sure that you comply with regulation while ensuring you do not pay the Exchequer more than you need to!
Kelly & Co provide an efficient and cost effective VAT service which includes:
- Completion of VAT registration
- Providing advice on VAT planning and administration
- Preparation of VAT Returns
- Liasing with HM Revenue & Customs on your behalf