Many small to medium size business owners find it hard to believe that there really is an organisation called the Office of Tax Simplification up and running in the UK today. Their job is to take the UK's complex taxation policies and advise the government on more simplified and straightforward ways of applying them. Even with these measures in place, the UK system can sometimes be complex and difficult to work through.
The variations in the UK tax system are designed to encourage business growth, leading to an overall stimulation of the economy. That said, even with the Office of Tax Simplification working to make tax filing as straightforward as possible, many business owners ending up getting distracted. The main focus of a business owner should be on growing and succeeding with their company. When they have to deal with tax returns and filing considerations too, there is a risk of neglecting the business or making errors in tax filings. To save time and avoid mistakes, you may require professional advice and practical help. This is where we can help.
One of the major problems accounting businesses face is the frequency of VAT returns, which must be filed quarterly. This means companies need to always stay on top of what they need to pay VAT on and what they can reclaim VAT for. As the guidelines and legislation affecting VAT are under seemingly constant review, even if you have the best kept records and accounts in the country it can be a challenge to work out what may be reclaimed and what must be paid. We're happy to handle this for you in a cost effective way.
If your VAT returns are incorrect, you run the risk of being fined. In many cases this is the result of a simple mistake. With our tax expertise and accounting services in West Sussex, you can avoid the pitfalls and make sure your returns are submitted correctly and on time. We'll make sure you are in the best position possible with your VAT return situation whilst always ensuring you remain well and truly on the right side of the law.