VAT Services
What is VAT?
Value Added Tax (VAT) is a tax added to most goods and services in the UK. Businesses that are VAT-registered must charge VAT on their sales and can reclaim VAT on their purchases. It’s a key part of the UK tax system but navigating it can be tricky for many business owners.
VAT has become increasingly complex over the years and is far from the simple tax we were promised in the early 1970’s when it was introduced. Thankfully, we’re experienced at handling it, so we can help you stay compliant, manage your returns efficiently, and make sure you’re not paying more than you need to.
How SK Accountants can help you with your VAT returns
At SK Accountants, we provide an efficient VAT service, which includes:
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Step 1
Making Tax Digital (MTD) for VAT
Making Tax Digital (MTD) is a UK government initiative designed to make tax reporting more efficient and accurate by moving it online. Under MTD for VAT, most VAT-registered businesses with a taxable turnover above the VAT threshold must keep digital records and submit their VAT returns using MTD-compatible software.
VAT has become increasingly complex over the years, and MTD adds another layer of requirements for businesses. Thankfully, we’re experienced at handling it, so we can help you stay compliant, ensure your digital records are accurate, and make submitting your VAT returns as simple and stress-free as possible.
