Professional Outsourced Payroll Services by ob体育首页下载安装, London

Professional Outsourced Payroll Services by ob体育首页下载安装, London

Managing payroll every month is one of the biggest headaches for small and medium-sized businesses across the UK. And this is because they don’t have a dedicated payroll expert or an accountant who can take care of these activities. After some point of time, it becomes trying for them to focus on their core business process and managing payroll every month. If this is the scenario of your office as well, then it’s time to consider professional outsourced payroll services. There are plenty of London-based outsourced payroll service providers like ob体育首页下载安装 who can efficiently manage your company’s payroll task – that too keeping in mind the changing payroll legislation.

Offloading yourself offers your free time to focus on your core business activities and spend some quality time with your family and friends. Moreover, being affordable, it costs you less than hiring an in-house payroll expert to take care of payroll tasks every month. If you are a small or medium-sized business in London or across the UK and want to pass on your payroll tasks to experienced payroll professionals in London, then you can contact ob体育首页下载安装 .

Based in London, ob体育首页下载安装 is one of the most professional outsourced accounting firms that is valued for offering out-of-the-box payroll services to businesses in London, Wembley, and Harrow. Our professionalism and dedication towards perfection have earned us a massive customer base across the United Kingdom. With our budget-friendly payroll services, you can rest assured about accuracy and focus on your core business activities.

With more than 40 years of experience, we take pride ourselves in offering highly professional payroll services to businesses of every size in London and also across the UK. Regardless of the type of business, when you decide to hire payroll experts from ob体育首页下载安装, you know you’ll be getting the best payroll services in the industry by the people who understand your business and speak your language.

Here’s How ob体育首页下载安装 Can Help Your Small Business

With the team of the most dedicated payroll experts in London, we are here to help you manage the day-to-day running of your payroll preparation and compliance. Our payroll services for businesses include:

  • Complete Payroll Services
  • PAYE Registration and Administration
  • One-Off Payroll Exercises
  • TRONC Scheme Management for Hotels, Bars, and Restaurants
  • Complete Payroll Services for Overseas Organisations

To learn more about our Outsourced Payroll Services, please ob体育首页下载安装:

If you are a business owner in London or across the UK who wants to offload his payroll tasks to someone who is truly professional and dedicated towards his duties, then contact ob体育首页下载安装 today. At ob体育首页下载安装, we have a team of payroll experts to help your business grow with our payroll services. We have different services and hiring models to suit your budget and requirements.

If you have any questions or queries about our outsourced payroll services and how it can benefit your small business, then feel free to contact us at +44-020-8903-2077 or email us your payroll requirements at mukund.amin@affinityassociates.com . We offer a free, no-obligation consultation to help you understand our payroll services work.

Is Your Business Ready for Making Tax Digital by the HMRC?

Is Your Business Ready for Making Tax Digital by the HMRC?

Making Tax Digital is an initiative by the HMRC envisioned to digitalize the UK Tax System, but is your business ready for Making Tax Digital? Are you and your business ready to adopt the reforms brought by the HMRC department? If not sure, then please read this blog.

According to the HMRC department, they have asked businesses to get ready for MTD, and as a result which, they have circulated a list of over 200 software products for businesses to choose from with a range of prices, including some are free, offering different levels of functionality to suit every business. But, if you are not sure whether your business is ready for MTD or not, then here’s what you need to do.

What do Businesses need to do?

If you are a business having an in-house accountant or a tax representative, then he / she will be aware about Making Tax Digital (MTD) and will advise you on how and when your business needs to make changes to be ready for the new services.

If you are already using one of the MTD compatible software suggested by the HMRC department, then register for the new service and authorise your software for MTD. However, if you are one of the businesses that are not using any software, then it is quick and easy to register; and there is lots of information available to make your business ready for MTD.

If you are confused whether your business fall under the VAT threshold defined by the HMRC department, then take necessary steps to confirm it first. This is because, if you are falling under the defined VAT threshold, then you need to start keeping your records digitally and sending your VAT return to HMRC direct from your software for the next VAT periods. If you don’t know how to do it, then it is recommended to contact an accounting firm like ob体育首页下载安装 ” to help you make your returns Making Tax Digital compliant .

If you don’t have an in-house accountant or a tax representative, need to select software to use and sign-up to MTD, then authorise their new software for MTD. The official website ( GOV.UK ) offers a lot of information on varieties of MTD compatible software – from free software to more straightforward tax affairs.

Contact ob体育首页下载安装 for MTD

If your business falls under the defined VAT threshold, and if you don’t know from where to start then, help is here. ob体育首页下载安装 is a London based accounting firm known for providing the best accounting and bookkeeping services to small businesses in London and across the UK. ob体育首页下载安装 is one of the leading names in adopting the MTD and other tax reforms put forward by the HMRC department, UK.

To know more about MTD and how affinity associates can help you, schedule a free consultation. Contact us at info@affinityassociates.com or dial 44-020-8903-2077.

Making Tax Digital (MTD) and How ob体育首页下载安装 Can Help You Digitalise with the Modern UK Tax System

Making Tax Digital (MTD) and How ob体育首页下载安装 Can Help You Digitalise with the Modern UK Tax System

Making Tax Digital (MTD) is one of the most revolutionary and transformational moves by the UK government to make it a lot simpler for businesses and individuals to get their tax right and keep on top of their affairs. With the introduction of the Making Tax Digital (MTD), the HMRC department aims to become one of the most tech-savvy tax administrations across the globe. MTD is designed to make basic changes in the way the tax system works – transforming tax administration so that it is:

  • more effective
  • more efficient
  • easier for taxpayers to get their tax right

MTD will totally change the way in which all individuals and businesses report their financial details to the HMRC. With the MTD reform changing the way in which we all report our financial details, it’s time for all the businesses and individuals (earning above VAT threshold) to be stay prepared for it.

Every individual can now access their Personal Tax Account: You can now have access to your Personal Tax Account online at https://www.gov.uk/personal-tax-account . This Personal Tax Account gives you an up-to-date picture of your tax position in much the same way as online banking does for personal finances.

How ob体育首页下载安装 Can Help You Digitalise With MTD

Since April 2019, individuals and businesses with the turnover above the VAT threshold are asked to maintain their financial records digitally, and file their VAT returns to HMRC via Making Tax Digital ready software. Which means, instead of maintaining your financial records on paper, you have to use MTD compatible software. If you are unsure, whether your business needs to comply with MTD, then contact ob体育首页下载安装 for help.

If you are already maintaining your financial records in a software, then you need to make sure your accounting software is compatible to MTD or not.  This is because, under MTD, some businesses and landlords are required to keep digital accounting records. Spreadsheets are also accepted as digital records for MTD purposes, but they will need to be uploaded to appropriate software. If you have any confusion about which accounting software to use, then the team of accountants can help you find an MTD compatible accounting software for your business needs.

If you are one of the highly occupied entrepreneurs or a business owner not having enough time to keep your business records manually or over the accounting software, then ob体育首页下载安装 can assist you with everything related to MTD and VAT return filing. We will provide bookkeeping services and make the quarterly returns on your behalf.

Contact ob体育首页下载安装 for Advice, Help and Support

If you have any have any questions or queries related to MTD or how to file VAT return under MTD, then we are available to assist you in ensuring your tax summary is correct and you’re not over – or underpaying – tax. We are London based accounting firm with more than 40 years of experience, and you can contact us via email at info@affinityassociates.com or dial +44-020-8903-2077 for immediate assistance or a free consultation. You can also visit our official website to know more about our services at https://www.affinityassociates.com .

Here are 5 Ways Accountants at ob体育首页下载安装 Can Help You Save More

Here are 5 Ways Accountants at ob体育首页下载安装 Can Help You Save More

Most small and medium-sized businesses in London and across the UK tend to manage their finances on their own, but if you decide to hire an accountant from a reputed accounting firm like ob体育首页下载安装, you will find you save your business money in the long run.

Apart from the routine accounting and bookkeeping tasks, the accountants can assist you in plenty of other tasks. The team of accountants in London at ob体育首页下载安装 are highly trained and dynamic enough to deploy cutting-edge technology to increase an owner’s sight of their business and to push growth, from start-ups to established businesses.

With the advice and insight provided by the accountants, your business will be well on its way, unlocking its true potential.

Professional Tax Advice : For most small and medium-sized businesses, tax regulations are a dense maze, and it becomes extremely difficult for them to cope up with all of them at the same time. They cannot abreast all the changes to the tax laws, especially when their tax position changes based on the structure of their business – self-employed, limited company, or otherwise.

But, when you hire an expert London-based accountant, you don’t have to worry about the tax laws anymore. All the credit goes to their expert knowledge on a range of tax planning options. The tax accountants at ob体育首页下载安装 can help you make the most of each tax year and advise on the most tax-efficient plan your business.

Moreover, the team of accountants at ob体育首页下载安装 can also save your business money simply by keeping on top of tax deadlines.

Cash Flow Management and Financial Forecasting : Check on unnecessary expenses and good bookkeeping services can help with cash flow in your business. In business, “Cash is King” because it is the lifeblood of any business – especially for start-ups, small and medium-sized enterprises. Therefore, it is extremely crucial to keep an eye on your cash flow and predicts the accurate cash flow to ensure the business has enough to survive.

This is where experienced accountants come in. Our team of accountants in London at ob体育首页下载安装 can get you a rolling forecast of your current cash flow, allowing you to stay up-to-date with your existing cash position. A close watch on your cash position means that you will have a chance to sort out many issues before they become serious.

Offering You a Free Time for Your Business : Being a small business owner, you know better how precious every hour is for you, and an accountant can save your business money by saving your time. By taking care of your books and staying on top of your tax deadlines, an accountant can offer you free time that you can invest in client relationships and the work you originally set out to do.

Talk to our experienced accountants in London today and see how they can take your business to the next level. For a free consultation, contact us at https://www.affinityassociates.com OR email at mukund.amin@affinityassociates.com

Payroll Services for Small Businesses in London: Here’s How Affinity Can Help

Payroll Services for Small Businesses in London: Here’s How Affinity Can Help

Payroll is the real challenge for almost all the small and medium-sized businesses across the United Kingdom. This is because, it becomes tough for them to juggle between the productive business activities and payroll tasks, as both of them are equally important for the prosperity of your business. Having fewer employees doesn’t reduce the load on business owners, because the complication and time-required remains almost unchanged. Moreover, ever-changing payroll legislation in the UK adds fuel to the fire, making the situation unbearable for the business owners.

If you are a small or medium-sized business in London or across the UK and want to get pass on your payroll tasks to experienced payroll professionals, then the help is here so that you can focus on what’s good and fruitful for your business. ob体育首页下载安装, one of the leading accounting firms in London, is offering budget-friendly payroll services. When you choose to outsource your payroll to ob体育首页下载安装, you can rest assured that your payroll is in safe hands.

With more than 40 years of experience, we take pride in ourselves in offering the highly professional payroll services to businesses in London and also across the UK. Regardless of the size of your business, when you decide to hire payroll experts from ob体育首页下载安装, you know you’ll be getting the best payroll services in the industry by the people who understands your business and speaks your language.

Here’s How ob体育首页下载安装 Can Help Your Small Business

With the team of the most dedicated payroll experts in London, we are here to help you manage the day-to-day running of your payroll preparation and compliance. Our payroll services for businesses includes:

  • Complete Payroll Services : Being an experienced player, we can easily manage the complete process for you and keep you posted with a daily, weekly and monthly report. We can also process end of year returns, including delivering P14’s and P60’s.

 

  • PAYE Registration and Administration : We will strictly observe, calculate and deduct your employee income tax payments, national insurance contributions, and other payments that need to be deducted from their salary. We can also deliver individual payslips once they become available.

 

  • One-Off Payroll Exercises : When it comes to one-off payroll exercise such as commission, bonuses, overtime payments, etc. we are highly experienced in handling those tasks on your behalf and offer you with the year-end reconciliations and summers and analysis of staff costs.

 

  • TRONC Scheme Management for Hotels, Bars and Restaurants : Our payroll experts in London possess expertise in managing payroll for almost every industry, including hotels, bars and restaurants. We can help you manage your TRONC scheme to make sure that tips and/or service charges are distributed evenly between your employees in a tax-efficient manner and on-time.

 

  • Complete Payroll Services for Overseas Organisations : With our payroll services, we can also help overseas organisations who wants to start a business in the UK. We can help you in setting up and managing your employee payroll.

To know more about our Payroll Services for Small Businesses in London and across the UK, please visit our official website https://www.affinityassociates.com .

Contact ob体育首页下载安装

If you have any questions or queries about our payroll services and how it can benefit your small business in London and across the United Kingdom, then feel free to contact us. We offer a free, no-obligation consultation to help you understand our payroll services work. Please dial +44-020-8903-2077 or email us your payroll requirements at mukund.amin@affinityassociates.com

Small Business Bookkeeping Services in London, Wembley and Harrow

Small Business Bookkeeping Services in London, Wembley and Harrow

Professional accounting and bookkeeping in small business allow the business owners to record, evaluate and interpret the required financial information to make an informed business decision. And these are the reasons, why accounting records have to be clear and accurate so that business can keep track of its operations. Moreover, it gives a snapshot of the sales and expenses of a business for a given period.

If you are a small business in London, Harrow or Wembley, and are in search of highly professional bookkeeping services, then ob体育首页下载安装 is worth considering. With more than 30 years of industry experience, Affinity is esteemed for offering the fast, accurate and affordable bookkeeping services to small and medium-sized businesses in London and other nearby areas.

Why ob体育首页下载安装 for Small Business Bookkeeping?

At ob体育首页下载安装, we have the team of qualified and experienced accountants that are experts in small business accounting such as accounts payables, accounts receivables, bank reconciliations, payroll processing and more. Our certified practising accountants and experienced tax experts in London understand what it takes to stay competitive and profitable in the stance of highly fierce business environment of today. You can count on our team of accountants as your principal accounting provider.

Our team of small business accountants and bookkeepers in London possesses an intense dedication towards impeccable customer service. We hold high customer satisfaction and retention rate than any other accounting service providers in London and nearby areas.

At ob体育首页下载安装, we always strive to offer the best possible accounting and bookkeeping services to small business owners. We not only assist our clients with the annual tax returns, but we also help them throughout the year with professional accounting services that lets them focus on the core business activities.

Hire Experienced Bookkeepers

The bookkeeper whom you hire will have unmatched ability and experience to manage your books effectively. Along with their experience and ability to manage your books professionally, they also have the immense understanding of the changing rules and trends in the industry to help you stay ahead than others.

Our Bookkeeping Services for Small Business

Here at ob体育首页下载安装, we offer bookkeeping services in London specifically tailored to meet the needs of small business owners. We value our clients and treat them much more than just a customer.

If you are a small business owner, and need a bookkeeper or an accountant in London or any nearby areas to file your tax returns or any other finance related services, you can count on our 30 years of industry experience. We will me more than happy to help you with our bookkeeping and accounting services. For a free consultation, please call / email us on +44-020-8903-2077 /  Mukund Amin or schedule an appointment online at http://bit.ly/2IJKULg .

Why Finding the Right Accountant is So Important For Your Small Business in London, UK

Why Finding the Right Accountant is So Important For Your Small Business in London, UK

 

How much do you know about accountants for small businesses in London? If you are a small business owner in London, and you don’t know why it is necessary to include an experienced accountant or a bookkeeper in your team, then it is the time when you need to seriously take a hard look at why you should. It’s not all about daily bookkeeping and taxes, but an experienced accountant can help you start, grow and keep your business thriving through the years. Let’s take a look at how they benefit your business at every stage.

Accountants During Start-up

So, you are planning to start your own business. What can go wrong? Every year, millions of people across the globe dream to become a successful entrepreneur but very few succeeded. The only difference between the successful start-ups and the one that fails just out of the gate is good advice and guidance. When you hire an accountant at the same time you’re setting up your company, chances are good you’ll get off on the right foot. An experienced accountant can;

  • Help with the financial planning and creating a financial outlook to help with funding and loans
  • Offer you the advice and guidance when summarizing a business model and plan
  • Advise on business setup and structure
  • Assistance with obtaining business licenses
  • Early set up of expense tracking and bookkeeping basics

Accountants and Day-to-Day Operations

Accountants are not only for big companies to take care of tasks like financial planning, tax filing and budget creation. They are very much useful to start-ups, small and medium-sized businesses. It is incredibly rewarding to have one in your team for the daily operation of your business. An experienced bookkeeper will ensure that all your books are maintained up-to-date and recorded properly, while an accountant can work with your bookkeeper to make sense of all of that financial information. Moreover, here’s are some more tasks they can manage, and they are;

  • Month-end accounting
  • Financial statements
  • Ensure compliance with government regulations
  • Oversee and manage payroll for your employees and contractors
  • Find cost savings when working with vendors and suppliers
  • Manage tax preparation year-round, not just at tax time
  • Create financial reports and summaries
  • Assist with budget creation and management
  • Contract oversight and administration
  • Asset and inventory tracking

Accountants When Business Is Flourishing

With a lot of hard work and a little push from the luck, finally, your business gets off the ground quickly and starts to flourish. Along with sweat and good fortune, the growth of your company depends on many other factors as well. You need some truly dependable individuals behind you who can help you steer the situations in the right directions.

It’s your business; hence, you are undoubtedly the expert when it comes to your product or service, however, you might not be an expert when it comes to the services a good accountant can provide. For instance, they can help in many ways such as;

  1. Perform cash flow analysis to help with decisions regarding growth
  2. Create reliable financial forecasting to help guide those decisions
  3. Guide you to manage growth responsibly and plan accordingly
  4. Recognize possible opportunities you can take advantage of
  5. Help make appropriate and well-informed choices when investing in equipment, inventory, and overhead
  6. Help you with industry pricing to keep you profitable and competitive

You can try, but wearing all the hats at a time is not possible and not in favour of your business. Having a professional advice is always beneficial for your business, especially when it is in the initial stage. An accountant can help you with all the start-up decisions along with paperwork. Moreover, they can also keep the things humming along during your daily operations. Most importantly, during the lulls of business, an accountant can help keep you afloat by keeping finances under control, helping manage expenses, and negotiate interest rates that can help get you through the hard times.

Meet the Best Accountants in London only at ob体育首页下载安装

If you are in search of an experienced, professional and dependable accountant in London who can stand by you 24*7, then you are at the right place. At ob体育首页下载安装, we have the accountants who can fit any business domain and any budget.

To find the right accountant for your business, look no further than ob体育首页下载安装. For a free quote and consultation, get in touch with our experts in London today at +44 020 8903 2077 or schedule an online appointment at https://www.affinityassociates.com/contact-us/ .

Hire Expert Tax Accountants in London to End VAT Troubles for Your Small Business

Hire Expert Tax Accountants in London to End VAT Troubles for Your Small Business

Preparing, accounting, and filing VAT returns is an extremely daunting task, especially for busy business owners who have other important things to take care of, like overseeing day-to-day operations and managing customers among others. However, by engaging tax accountants for small business in London, UK, like the ones at ob体育首页下载安装, business owners will never have to worry about their VAT matters ever!

Tax accountants for small business in London at ob体育首页下载安装 are thoroughly experienced to help you prepare accurate VAT returns, account them precisely in your books, and file them on your behalf to HMRC in a timely manner. In case any queries arise, these expert small business tax accountants will also deal with HMRC on your behalf.

What is VAT?

The value-added tax, or simply VAT, is a form of tax levied on certain goods and services sold by a VAT-registered business in the UK.

Businesses need to register for VAT only if their VAT taxable turnover is in excess of £85,000. The threshold of £85,000 is for the tax year 2018/19, but it may increase by £1000 or so every year.

Even if the turnover is less than the current threshold, small businesses can still voluntarily register for VAT in order to avail certain benefits. Boosting business profile and availing VAT refunds are among several benefits that a small business can achieve by voluntarily registering for VAT.

Once registered for VAT, it becomes compulsory for businesses to prepare and submit VAT returns online, often every three months! In order to pay the VAT bills, businesses must use electronic mediums, such as direct debit, Bacs, debit or corporate credit card. Failing to pay the VAT returns within the due date usually results in surcharges and penalties to the business owner.

There are three different VAT rates in the UK: Standard, Reduced, and Zero. The standard VAT rate is 20%, and it is imposed on most goods and services. The reduced VAT rate is 5%, and it is imposed on certain goods and services, such as children’s car seats, booster seats, and home energy. Finally, there is zero VAT rate, which is imposed on several VAT-taxable goods and services, like children’s clothes and most food products, but it is charged at 0% to the customers.

Expert Assistance for VAT Returns

Looking at above, you can easily see how confusing the VAT matter is. Which VAT rates you should apply to which products and services? How to prepare accurate VAT returns? How to submit VAT returns online to HMRC? How to make VAT payment? How to deal with HMRC in case of queries? How to avail VAT refund? These are just some of the questions that may bother even the savviest business owners. Even if business owners are able to handle VAT preparation and filing, it will prove too bothersome and time-consuming.

In order to free themselves from the troubles of VAT matters, it is sensible for business owners to seek the assistance of professionals. In this case, they are tax accountants.

VAT matters are usual chores for small business tax accountants. They know the ins and outs of VAT and will help you with every VAT matter, ranging from VAT preparation, VAT submission, VAT payment and everything in between. Engaging tax accountants for small business, like at ob体育首页下载安装, will certainly benefit every business owner.

ob体育首页下载安装 is a top small business accountancy firm in London, UK. With some of the most competent accountants and tax accountants for small business, ob体育首页下载安装 provides a range of accountancy services to small business, including bookkeeping services, payroll services, VAT services, personal and corporate taxation services, and financial advisory services among other.

Browse through our site to learn more about our services https://www.affinityassociates.com/ . If you have any questions about our small business accountancy services, feel free to contact us https://www.affinityassociates.com/contact-us/ . We’ll be glad to assist you.

How to Find Tax Accountants for Small Businesses and How Much to Pay for it?

How to Find Tax Accountants for Small Businesses and How Much to Pay for it?

Do you find the DIY taxing too complex for your small business? Do you too find it irrelevant to hire a full-time accountant in-house? If you make a search in the Google with “Tax Accounts for Small Businesses in the UK” you’ll be flooded with numerous sites in the search results. All claiming to offer, either the best or the cheapest, or perhaps both types of services. So how will you be able to find tax accountants for your business in London or perhaps anywhere else in the UK.

The answers to these questions is not easy, and involves a significant amount of research and risk. Once you go online, just a quick search could help you to find firms who will charge as little as £ 50 to be as high as over £ 250. This makes it difficult for small businesses to find a relevant one, especially when all claims to be the best. One has to count on various aspects such as experience, expertise, team strength, professionalism, references, as well as the costing. Of course, we all are well versed with the fact that opting for the cheapest services is always not the best option, and neither the most expensive one always end up providing the best experience.

On the other hand, we all have to agree on this fact that managing the tax of your business is not an easy task. One has to consider various things such as profit & loss, cash flow, expenses, as well as the often changing & updating tax laws. This is a tough job, especially considering two major factors, i.e., (1) It is not necessary that everyone possesses the knowledge / know-how of tax & accounts, and (2) one has to focus on managing the overall business operations rather than shifting and investing time behind managing the accounts & tax. This is why big companies employees full-time accountants who could manage these aspects for them. However, the things become difficult for small businesses, and they tend up ending outsourcing it to accountancy firms. So this brings back to the previous question, How will you find a tax accountant for your firm in the UK? What are the parameters that you will take into consideration?

The best and the optimum way to start with is by going through their website. By simply browsing their website you can get the idea of the accounting firms experience, expertise, whether they have the certified and professional accounts in place, and best of all the client’s testimonials and the firms that they have worked with. Also, most of these sites do list out their pricing as well. Further to add, the tax accountancy services is offered on package basis, so you could check out the package that you feel the best suitable for your business. All of these packages have different pricing with different coverings. Last but not the least that you would like to checkout is by talking to one of their representatives, and understand their offerings.

ob体育首页下载安装 is a leading and professional accounting firm in London, UK, that could come to rescue. They have everything right in place, which includes but not limited to years of industry experience, expertise working with some of the leading businesses in the UK, partnership with leaders in accountancy businesses such as Xero & ACCA, a pool professional and certified accountants, and one of the most competitive costing.

They have packages starting from as low as £ 91 per month, which includes services such as dedicated accountant, Xero Subscription, Secure Automated Bank Feeds, and much more, all ensuring to provide high-quality services with no compromise. To know more on how their tax accountants could help your business, feel free to email them at info@affinityassociates.com OR call them on +44 020 8903 2077.

End Your VAT Troubles by Engaging Expert Tax Accountants for Small Business

End Your VAT Troubles by Engaging Expert Tax Accountants for Small Business

Preparing, accounting, and filing VAT returns can be extremely difficult, especially for busy business owners who have other important things to take care of, like overseeing day-to-day operations and managing customers among others. However, by engaging tax accountants for small business in London, UK, like the ones at ob体育首页下载安装, business owners will never have to worry about their VAT matters ever!

Tax accountants for small business in London at ob体育首页下载安装 are thoroughly experienced to help you prepare accurate VAT returns, account them precisely in your books, and file them on your behalf to HMRC in a timely manner. In case any queries arise, these expert small business tax accountants will also deal with HMRC on your behalf.

VAT – In a Brief

The value-added tax, or simply VAT, is a form of tax levied on certain goods and services sold by a VAT-registered business in the UK.

Businesses need to register for VAT only if their VAT taxable turnover is in excess of £85,000. The threshold of £85,000 is for the tax year 2018/19, but it may increase by £1000 or so every year.

Even if the turnover is less than the current threshold, small businesses can still voluntarily register for VAT in order to avail certain benefits. Boosting business profile and availing VAT refunds are among several benefits that a small business can achieve by voluntarily registering for VAT.

Once registered for VAT, it becomes compulsory for businesses to prepare and submit VAT returns online, often every three months! In order to pay the VAT bills, businesses must use electronic mediums, such as direct debit, Bacs, debit or corporate credit card. Failing to pay the VAT returns within the due date usually results in surcharges and penalties to the business owner.

There are three different VAT rates in the UK: Standard, Reduced, and Zero. The standard VAT rate is 20%, and it is imposed on most goods and services. The reduced VAT rate is 5%, and it is imposed on certain goods and services, such as children’s car seats, booster seats, and home energy. Finally, there is zero VAT rate, which is imposed on several VAT-taxable goods and services, like children’s clothes and most food products, but it is charged at 0% to the customers.

Availing Assistance for VAT Returns

Looking at above, you can easily see how confusing the VAT matter is. Which VAT rates you should apply to which products and services? How to prepare accurate VAT returns? How to submit VAT returns online to HMRC? How to make VAT payment? How to deal with HMRC in case of queries? How to avail VAT refund? These are just some of the questions that may bother even the savviest business owners. Even if business owners are able to handle VAT preparation and filing, it will prove too bothersome and time-consuming.

In order to free themselves from the troubles of VAT matters, it is sensible for business owners to seek the assistance of professionals. In this case, they are tax accountants.

VAT matters are usual chores for small business tax accountants. They know the ins and outs of VAT and will help you with every VAT matter, ranging from VAT preparation, VAT submission, VAT payment and everything in between. Engaging tax accountants for small business, like at ob体育首页下载安装, will certainly benefit every business owner.

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