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VAT Returns


Some elements of running a business can be repetitive and mundane. This can be what leads business owners to put off certain tasks or even avoid them completely. 

Keeping VAT records and preparing quarterly VAT returns is essential but time consuming for many businesses. Aimtrac’s VAT returns services will keep you compliant with the latest VAT legislation but means you can focus your energy elsewhere. 

Our experienced bookkeeping team can prepare and submit VAT returns online on your behalf. We have plenty of experience using Xero VAT return and other accounting software. We can help you to understand your VAT obligations and ensure that your business submits an accurate VAT return online for each quarter.

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Businesses that have a great bookkeeping system operate like a well oiled machine. The accounts are properly arranged, data entry is systematic and clear reports are always readily available. At Aimtrac we’ll happily look at your existing processes with you for free, and we’ll offer advice as to how you could achieve the perfect system.
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Our Team

The Aimtrac team is a group of subject matter experts, all dedicated to helping companies grow. Bookkeeping is an essential function of any business but also one that can prove to be a significant pain point for company owners. We offer professional bookkeeping services to help take the pressure off businesses when recording financial transactions and keeping on top of cash flow. We can bring practical support to your business through our qualified bookkeeping team providing you with regular contact and updates regarding your financial position.
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Steve Seymour - Aimtrac Group
Steve Seymour
Managing Director
Sharon Ashmore - Aimtrac Group
Sharon Ashmore
Head of Bookkeeping & Payroll
Clare Halton - Aimtrac Group
Clare Halton
PA & Office Manager
Janine Jesse
Business Advisor

What is a VAT Return?

Businesses in the UK are required to submit VAT returns to HMRC if their turnover exceeds £85,000. Some businesses also choose to register for VAT payments voluntarily. If your company is registered for VAT then you will need to keep the appropriate records and complete VAT returns. HMRC will inform you of the VAT return due dates after you register. Most businesses will need to complete four VAT returns a year, after every VAT quarter.
Once your business is registered and you have a VAT number, you will be able to create VAT invoices showing how much VAT you are charging on sales. You must charge the correct VAT rate on the products or services you sell. As well as the standard rate for VAT, some products are eligible for reduced or zero rates. Businesses with higher turnovers can also use the VAT flat rate scheme to simplify their payments.

Does My Business Need to Register for VAT?

VAT registration is required for all businesses with an annual turnover of £85,000 or more. You should register for VAT if your turnover has exceeded the VAT threshold over the last year. You should also register for VAT if you expect to exceed the threshold within the next 30 days although you can apply for a VAT exemption if you believe this is only temporary. Once you have registered, you will need to file VAT returns as long as your turnover remains above the threshold.

Should My Business Voluntarily Register for VAT?

You may choose to submit VAT returns voluntarily even if your business makes less than £85,000 a year. Businesses can benefit from voluntary VAT registration as it enables you to claim VAT refunds on goods or services that you have bought for business use. Having a VAT number to display on your stationery and website can make a small business appear more serious, which could boost your image with potential clients, suppliers or partners. Some organisations prefer to work with VAT registered businesses as they know you will be familiar with VAT invoices. If your business grows and passes the VAT threshold then you will already be registered and familiar with submitting VAT returns.

How to Submit a VAT Return

Once you are registered you will need to complete VAT returns at the end of each return period. Most businesses will file VAT returns every 3 months. It is easy to submit VAT returns online through the Government Gateway, but keeping records and preparing the VAT return for submission can be a time consuming process.
You should keep a record of how much VAT you charge and how much VAT you have paid on goods or products during all VAT quarters. You will need this information at the end of the return period when you complete the VAT return. Accounting software such as the Xero VAT return features can make record keeping easier. You can also work with VAT return services that can prepare and submit VAT returns online on your behalf.

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Need Help with Making Tax Digital? Talk to Aimtrac.

Aimtrac provides VAT return services for small and medium sized businesses across the North West. We can advise on the best accounting software for your business and help you to keep accurate records.
We are based in Altrincham and work with businesses across Greater Manchester and the surrounding regions. Our clients include VAT registered Sole Traders, Partnerships and Limited Companies across all sectors. We can help you to register and submit your first VAT returns. We can also help you to move to digital VAT returns if you’ve been submitting VAT returns on paper.

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