VAT

At Botham Accounting, we can prepare and process your VAT returns making the whole process easier for you, or just offer you advice on VAT and how to navigate it. We can help you identify what you can charge VAT on and what you can’t.

VAT and its legislation can be a minefield, particularly in the land, property and construction sectors and can prove to be a time-consuming part of your business.

We look to give practical advice by considering the way in which your business works to change the timings of indirect tax payments to improve cash flow.

Simple things such as considering your bad debt recovery processes and eliminating errors from systems to more sophisticated processes in your purchase accounting systems will work to improve your VAT recovery and time for payment.

We can help you decide if you need to be VAT registered and if there are any schemes that we feel may benefit you, such as the Flat Rate or Cash Accounting scheme.

To produce your VAT return all we need from you are your accounting records for each VAT period and we will do the rest. We will ensure that you reclaim the correct amount of VAT and that you are compliant with HMRC. Once we have your VAT return completed we will send it to you for approval and then submit directly to HMRC for you.

We are timely and consistent in producing our VAT returns and have good experience of producing them for a broad range of sectors.

We have lots of practice in dealing with HMRC on VAT matters and know the sorts of questions they are going to ask and how to answer them. We can speak to and deal with HMRC on your behalf saving you time and possible stress.

VAT & Real Estate

Businesses and individuals with large property portfolios submitting partial exemption calculations as part of their VAT return preparation can find accurately documenting the values tricky. We can work with you to optimise your systems to achieve this.

Owners of property portfolios, developers and property investors also need to consider the impact of VAT considerations like whether to submit and option to tax the land and property.

Find out more about our work in Real Estate & Construction.

Latest Tax News & Insights

Budget 2018

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that ‘austerity is coming to an end – but discipline will remain’. He also promised a ‘double deal dividend’ if the Brexit negotiations are successful but stated that there may be a full-scale Spring Budget in…
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Budget 2018 – Personal Tax

The personal allowance The personal allowance is currently £11,850. The personal allowance for 2019/20 will be £12,500. Comment There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000 and the threshold has remained at this figure since its introduction for the 2010/11 tax year. The reduction is £1 for every £2…
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