For any business, errors in VAT, late registration of VAT, late filing of VAT, and late VAT payments can be a source of a number of penalties and fines. By allowing Virtual Bookkeeping Service to manage your VAT, you not only get assured that all your VAT related accounting would be done with perfection, but you also save yourself from wasting the hard earned cash of your business on the payments of fines and penalties.
Under the head of VAT return, we will:
- Assess if you are to register for VAT or not. If registration will be required, we will provide professional aid throughout the process.
- Monitor your situation consistently, and will notify you immediately if VAT registration would be required.
- Identify if you can gain benefits from deregistration and immediately notify if any such case exists.
- Keep a consistent watch on the variety of VAT schemes that are eligible for your business and identify whether you should opt for a single scheme or a combination of schemes. Some of the VAT schemes enable you to take advantage of tax savings and relieve you of some bookkeeping requirements as well.
- File your VAT returns for you by keeping a track of your VAT records.
- Ensure that you can make maximum VAT claims, specifically on the contentious items