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VAT

  • How is the VAT worked out?
  • What are the detailed Rules on VAT for my Industry?
  • Is it better for Jones Cooper to sort it for me?

We will answer all these and many more questions you may have at a FREE Initial Consultation with us - you can ask us as many questions as you like, as it is your Free Meeting.

At your Free Session we will discuss:

  • The VAT Records you need to keep.
  • How the normal VAT Scheme works.
  • How the VAT rules apply to your own industry/profession.
  • Whether you should register for VAT or not? (some Businesses make Profit out of being VAT registered - are you one?)
  • If you are Vat registered - are you able to get lower VAT bills by using the HMRC Flat Rate Scheme? ( 1 in 10 Businesses do - we have one client who was £5,500 better off in one year by using this Scheme! )
  • A quick VAT Planning exercise to see if your VAT Bills can be reduced!

Understanding the VAT Rules:

It is probably fair to say that VAT is the most difficult and most complex Tax within the UK Tax system to fully understand.

However, the VAT basics are:

  • Your Business is effectively an unpaid VAT collector.
  • Applying the correct Vat Rate on the goods or services you supply - this is called Output VAT.
  • The VAT rates could be 20%, 5%, 0%, Exempt Rate, or Outside the Scope of VAT. - all this depends upon the goods or services you supply, whether this is in the UK, the EEC or outside the EEC, and the type of industry you are involved in.
  • Keeping evidence of what you have supplied (invoices / till receipts etc).
  • Keeping a record of goods and services you have bought, and the VAT you have been charged - this is called Input VAT.
  • Being clear as to what Business Input VAT can be offset against the Output VAT you have collected.
  • Completing the quarterly VAT Return and filing and paying over any VAT due to the Vatman, before the quarterly filing deadline.

How We Help your Business:

We have detailed knowledge of the VAT Legislation and are able to provide you with specific help, guidance and advice for whatever industry you may operate in.

We are able to spot the potential problem areas for your own particular industry and so fully advise you on these -after all forearmed is forewarned!

Alternatively, If the VAT is just too difficult for you, then we can step in and complete this for you - allowing you to concentrate on running and developing the Business.

The impact of VAT on the Business World never stands still, nor does our Advice!

Please contact us on 01405 767247 or E-mail us on and book your Free initial no-obligation consultation to see how we can help.

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