VAT Accountants & Advice in Brighton

We work with businesses all across Brighton and East Sussex to help them stay on top of their VAT accounting.

At Plus Accounting, we’re dedicated to providing VAT advice, assistance and solutions to businesses in Brighton and East Sussex. Using our expertise in all things VAT, we pride ourselves on providing comprehensive guidance and support to ensure our clients remain compliant and optimised in the ever-changing world of VAT.

We offer complete services that encompass both compliance and practical aspects to ensure you can meet your VAT obligations. We wouldn’t be VAT specialists if we couldn’t be your one-stop shop for VAT, would we?

Our services

We can help you in a number of ways. Mix and match to suit your requirements or purchase the whole package.

  • VAT return predation and review. We’ll ensure accurate reporting and timely submission of your VAT returns, providing you with peace of mind and freeing up your valuable time.
  • Registering for VAT. If your taxable turnover exceeds £85,000, your business needs to register for VAT. We’ll take you through the process and ensure you take the necessary steps to remain fully compliant with the requirements.
  • Support and guidance. We’ll provide ongoing support, guidance and VAT advice to help you make better informed decisions. We’ll take the time to understand your business and its unique challenges to provide customised solutions that align with your goals.
  • VAT inspections. Sometimes, HMRC wants to inspect VAT documents. If they get in touch with you, we’ll guide you through the investigation process, ensure your records and processes are in order, and that you’re well-prepared for potential scrutiny.

MTD for VAT

VAT-registered businesses have to keep digital VAT records and use specific software for tax purposes. These rules are part of the ‘making tax digital’ (MTD) initiative. We use Xero to help clients with MTD, so if you need help with the complex rules, you can trust us to help.

Xero also provides us with real time data and our clients with financial resources. We can use that to have meaningful conversations with our clients to help them make better informed business decisions, from tax planning and VAT accounting to buying a new business asset.

Get in touch with us today

We’re dedicated to our clients and want to be your trusted partner for VAT advice, registration and wider accounting solutions.

With our expertise in VAT matters, we provide comprehensive guidance and support, ensuring your business remains compliant. All the while, you’ll be able to get back to your business with peace of mind that your VAT obligations are being handled with care.

Contact us for professional VAT advice.

Further information

Want to learn more?

Get in touch with our in house expert Emma Hardwick to see how we can help.

 

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What is Video Games Tax Relief (VGTR)?

 

Video games tax relief (VGTR) was introduced in April 2014 as part of the Government-backed creative industry tax relief.

To show HMRC your company is eligible to claim VGTR, your company must hold an interim or final certificate for the game you’re claiming for. These certificates are issued by the British Film Institute (BFI).

To obtain certification from the BFI, your company must pass a cultural test, certifying that the production is a British video game. And you can claim VGTR up to two years after a qualifying accounting period.

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Does your video game qualify for tax relief?

Your company qualifies for and can claim creative industry tax reliefs if it is:

  • liable to corporation tax
  • directly involved in the production and development of video games eligibility

Your company will be entitled to claim VGTR if the video game is British and:

  • the video game is intended for supply rather than as a marketing tool, for example.
  • at least 25% of core expenditure is incurred on
  • goods or services provided within the European Economic Area (EEA).

If your company qualifies to claim VGTR, your company is also entitled to:

  • an additional deduction in computing its taxable profits
  • where that additional deduction results in a loss, to surrender losses for a payable tax credit.

The games that are eligible for video games tax relief include:

  • video console games
  • games for PCs
  • games for mobile devices, such as smartphones and tablets.

The ‘cultural test’

To qualify for the relief, all video games must pass a cultural test with the British Film Institute (BFI), certifying that the production is a British video game.

You can still send an application if the game is under development, and a final certificate will be made available once completed. The BFI will then review the completed game before issuing a final certificate.

What do you need to start a video games tax relief claim?

  1. Confirmation of the start date and end date of the development of each video game subject to a VGTR claim.
  2. A copy of the interim or final certificate issued by the British Film Institute for each video game underdevelopment during the accounting period, which confirms a game is culturally British.
  3. Details of estimated and actual income for each video game under development, which is subject to a
  4. VGTR claim.
  5. Details of estimated and actual expenditure incurred on the development of each game.

Download our Indie Dev Guide to Video Games Tax Relief here

Level up your finances: the ultimate guide to video games tax relief in 2024

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