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.

Accurate VAT calculations are crucial for businesses to avoid overspending and ensure compliance. VAT accountants play a vital role in helping businesses navigate various VAT schemes and exemptions.

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 £90,000, 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.

Understanding VAT

VAT, or Value Added Tax, is a consumption tax levied by the Government on the sale of taxable goods and services. It is an indirect tax added to the purchase price of goods and services sold by VAT-registered companies. Essentially, VAT is used to generate revenue for the Government and distribute the tax burden across various stages of production and consumption. For businesses, understanding VAT is crucial as it impacts pricing, accounting, and overall financial management. Whether you’re a small business or a large corporation, being VAT registered means you need to be aware of how VAT affects your operations and ensure compliance with all relevant regulations.

VAT Registration

VAT registration is mandatory for businesses with an annual turnover exceeding £90,000. However, even if your turnover is below this threshold, you can voluntarily register for VAT. Registering for VAT allows you to claim back VAT on business expenses, which can be particularly beneficial if your business incurs significant costs. Our VAT specialists at Plus Accounting can guide you through the VAT registration process, ensuring you understand all the requirements and benefits. We’ll help you navigate the complexities of VAT regulations, making sure your business remains compliant and optimised for financial efficiency.

VAT Compliance

Ensuring VAT compliance is essential to avoid penalties and fines. VAT-registered businesses must submit quarterly VAT returns on time, and failure to do so can result in penalties and interest on VAT owed to HMRC. At Plus Accounting, our VAT specialists are here to help you with all aspects of VAT compliance. From submitting VAT returns to paying VAT, we ensure that you meet all your VAT responsibilities. Our comprehensive support means you can focus on running your business, confident that your VAT obligations are being handled accurately and efficiently.

Benefits of Being VAT Registered

Being VAT registered can offer several advantages for your business. Firstly, it can enhance the perception of your business, giving an impression of professionalism and trustworthiness. Additionally, you can claim back VAT paid on goods and services purchased for your business, which can significantly aid your cash flow. Moreover, being VAT registered means your prices will include VAT, potentially increasing your revenue. At Plus Accounting, we help you leverage these benefits, ensuring you maximise the advantages of being VAT registered while maintaining compliance with all VAT regulations.

Is Your Business Exempt from VAT?

Certain businesses are exempt from VAT, including those in healthcare services, education and training, insurance, and some financial services. If your business falls into one of these categories, you do not need to register for VAT or charge VAT on your goods and services. However, you may still need to keep detailed records of your business expenses and income. Our VAT specialists at Plus Accounting can help you determine if your business is exempt from VAT and ensure you meet all necessary VAT regulations. We provide tailored advice to help you manage your VAT responsibilities effectively, even if you are exempt from VAT.

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