At Tax Compute we will ensure that all VAT returns are completed on time and that your business stays fully compliant. We offer various accounting packages that will help ensure accurate book keeping and provide a cost effective solution to maintaining reliable and precise VAT records.

We will provide VAT advice on:

  • VAT rates, e.g. standard rate, reduced rate, zero rate, VAT exemption
  • VAT registration.
  • Flat Rate Scheme and whether it is beneficial to you.
  • VAT investigations

Flat Rate Scheme:

  • You pay a reduced fixed rate of VAT over to HMRC that depends on your business type.
  • You keep the difference between what you charge your customers and the reduced rate you pay over to HMRC.
  • You can’t reclaim the VAT on your purchases – except for certain capital assets over £2,000.
  • To join the scheme your VAT turnover must be less than £150,000 (excluding VAT) and you must apply to HMRC.