Understanding the issues surrounding Value Added Tax (VAT) is essential to the successful running of a business or company.
Since April 2019 businesses with a turnover over the VAT threshold (£85,000) have needed to make and keep their records digitally for VAT purposes in accordance with HMRC’s Making Tax Digital (MTD) directive.
We are able to assist clients with the initial setup of online accounting software and provide one-to-one tuition on how to use the online accounting software.
Although time is needed to set up and train clients on the online accounting software, we believe the benefits far outweigh the costs.
Online accounting software allows you to:
- access real-time information to see current financial position
- take your accounts anywhere with you and access on a laptop or a mobile
- have your bank feed your data directly into your online software on a daily basis
- pull up real-time information of your debtors and creditors
- create and send invoices anywhere in the world
- track sales and purchases
- allocate certain income and expenses to projects and create separate financial information.
Many of our staff are Xero certified, putting us is an even better position to help with our clients digital accounting needs.
Numera will help to ensure that your business is compliant with all the relevant VAT regulations. We assist with VAT registration; VAT planning and administration; and making use of the most appropriate scheme for your needs.
Our team can also advise on VAT control and reconciliation; finalising and filing VAT returns; and can negotiate with HMRC during disputes, and act on your behalf at VAT tribunals.
Simply contact us to find out more about our VAT service.