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VAT Services from Beach Accountants

Calculator and documentsBeach Accountants offer the following VAT services:

  • Preparation of VAT Returns
  • Registration with HM Customs & Revenue (HMRC)
  • Deregistration with HMRC.
  • Advice on the type of VAT suitable for your business
  • HMRC VAT Investigations


Value Added Tax, or VAT, is a tax that applies to most business transactions involving the transfer of goods or services.

When to Register for VAT

  • It is compulsory to register for VAT if you exceed £61,000 turnover in the last 12 months on the supply of goods and services.
  • You can voluntarily register for VAT. There are several reasons to do this, such as giving people the perception that your business is bigger or if all your customers are VAT registered.


Depending on the VAT scheme you use, a VAT Return must be completed quarterly or annually for the HMRC. The amount payable to HMRC, is the difference between the VAT on your Sales and the VAT on your Purchases.

The VAT Return and payment must be made within 1 month with quarterly VAT Returns and you have 2 months for an Annual VAT Return.

Types of VAT

Standard Scheme

With this scheme, VAT is accounted for on the basis of invoices issued and received.

The Cash Accounting Scheme

Under this scheme, VAT is accounted for on the basis of payments you receive and make, rather than on invoices you issue and receive

The Annual Accounting Scheme

There is a requirement to make monthly or quarterly installments during the year under this scheme, which are based on an estimate of your total annual VAT bill and at the end of the year you submit a single Annual Return pay or refund the difference.

The Flat Rate Scheme

This scheme allows you calculate your VAT payment as a flat rate percentage of your turnover. The percentages are decided according to the trade sector. The first year in business being VAT registered, you can benefit from a one per cent reduction in the flat rate.

For further information or advice contact Beach Accountants.

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