VAT

There’s no point paying your local accountants for handling your quarterly VAT return on your behalf when it’s a task that can be easily managed by your in-house finance team and checking it (a 10-minute job) becomes part of your part-time financial controller’s responsibilities. Many businesses fail to realise that making this simple switch in how they choose to submit and pay their tax could provide a whole raft of benefits.

Simply get the right making tax digital systems and integrations in place, and the support of a qualified internal financial controller to enable your in-house capability, and you can cut that unnecessary accountancy fee from your cost base. You can reduce filing penalties (with the help of direct debit), alleviate the threat of hm revenue investigations and maybe even discover new ways to maximise the amount of VAT you claim against expenses.

With the right level of VAT filing support for your specific business needs, you can make this essential finance function work in an optimal way for you – while ensuring you get your VAT return to HMRC on time.

5 benefits of in-house expertise for a VAT registered business

1

Improve profitability by cutting the cost of unnecessary accountancy support.

2

Maximise the ability to claim back VAT on all the expenses you’re entitled to and reduce the risk of claiming VAT back on items you shouldn’t be.

3

Ensure you’re treating sales to, and purchases from, overseas properly, as VAT complexity has increased after Brexit.

4

Be confident of never missing another deadline by submitting on time and eliminate the risk of late filing fines.

5

Reduce the threat (and the associated time, cost and worry) of an HMRC investigation

“I couldn't ask for more, YRH come with innovative solutions, simplify complex processes and are not afraid to come forward with suggestions – they have cleaned up payroll and pensions, have a handle on VAT and our cashflow is improving!”

CEO, Technology provider

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Learn more about how our finance and accounting services can help your business this year or if you have more questions, get in touch to talk with one of our experts.

How to increase profitability

Download your free guide and discover how small changes can yield big rewards for your business.

  • Streamline your revenue channels
  • Improve your cashflow
  • Audit your costs and outgoings
  • Develop new ways to optimise your finances
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Profitability

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