What VAT Can I Claim Back?

business in the UK,

Business In The UK

When setting up a business in the UK, you will need to take all the necessary steps to ensure that you have paid the correct amount of VAT on your sales. One of these is ascertaining what VAT can I claim back from your accounting firms. Most accountants in the UK are required to register with the VAT authorities and you should ask them what VAT can be claimed back from their company. If they refuse to supply you with any information, then it is best to use another accounting firm.

Different Accounting Firms

Accounting Firms

Not all accounting firms have an online presence. This makes it difficult for clients to obtain their VAT claims. However, there are still some accounting firms who do provide this service to UK clients. The most common problem that arises when using a firm that provides this service is that many firms are not staffed by professionals. Therefore, the tax man can contact them and demand a refund.


Find Out What VAT Can I Claim Back

It is important for you to be very careful when using a firm to find out what VAT can I claim back. You will be entrusting your business’s finances with this person. Their job is to help you prepare and submit your yearly return. If you make a mistake in this area then the government can step in and force you to pay back a large sum of money.

Different Accounting Firms


The best way to avoid this hassle is to ensure that you employ a professional accountant or payroll company to handle the accounting of your business. The tax man won’t have as much difficulty in obtaining the figures that he needs because these professionals will have had years of training. They will also have the knowledge of which items are classed as regular consumption, personal effect and other miscellaneous items.


A Good Accountant

These professionals should only work on your business accounts during the financial year. A good accountant will only work on such accounts during one year. Even if you employ him during a couple of months, he should still only work on one account at a time. This is so that there is no confusion when it comes to calculating how much tax you should be paying.

A good accountant will only deal with clients that are reputable. If a potential client contacts you and tells you that you are a client then steer clear of this person. A reputable firm would never knowingly say that another firm is its client. This is why you will usually see accountant names like Price Waterhouse or HWT in the phone book. These firms are more likely to be the real deal. In fact, a reputable firm will even offer a guarantee against any mistakes on your tax return.


Different Accounting Firms


Different Accounting Firms

There are many different accounting firms that operate in the UK. If you are not sure of how to choose the right accounting firm then it is a good idea to contact several firms and get information about their services, charges and terms and conditions. Before you decide on a particular firm, you must also find out whether it can help you with all kinds of tax problems. For instance, you might need a tax advisor to handle your business finance and accounting needs. The firm must be able to handle everything related to your business and make sure that you have nothing to worry about during the entire year.

The best thing about working with an accounting firm that handles your VAT claims is that they will always try their best to ensure that all your needs are met. They will ask you about your business, the turnover in your business and the nature of your business. With this information they can calculate how much tax you should be paying. At the end of the day, it is important for you to have any tax issues with the appropriate professionals handling your tax concerns.