Professional VAT Returns in Southampton

Get in touch

VAT Return Accountants in Southampton

Navigating the complexities of VAT (Value Added Tax) returns can be daunting for businesses of all sizes.

Ensuring that your VAT returns are accurate and submitted on time is crucial to maintaining compliance with HMRC regulations and avoiding unnecessary penalties.

At The Tax Advisors, we are a professional and affordable group of tax accountants based in the UK. We are dedicated to helping businesses manage their VAT obligations effectively.

We explore the essentials of VAT returns, common FAQs, and how our expert services can assist you.

Get in touch

What Are VAT Returns?

A VAT return is a document businesses registered for VAT in the UK must submit to HMRC, usually every quarter. This return outlines the amount of VAT a business has charged on sales and the amount it has paid on purchases.

The difference between these two figures determines whether the business needs to pay money to HMRC or if they are due a refund.

  • VAT return: A report detailing VAT charges and payments was submitted to HMRC.

  • Quarterly submission: Most businesses submit VAT returns every three months.

  • Compliance: Timely and accurate VAT returns are essential to avoid penalties.

Why Are VAT Returns Important?

Filing VAT returns accurately is not only a legal requirement but also vital for the financial health of your business. Incorrect or late submissions can lead to significant fines and interest charges from HMRC.

Furthermore, managing VAT effectively can help with cash flow management and ensure that your business claims all the VAT it is entitled to.

  • Legal requirement: All VAT-registered businesses must submit VAT returns.

  • Penalties: Late or inaccurate returns can result in fines.

  • Cash flow management: Efficient VAT management aids business finances.

Common FAQs About VAT Returns in SO14 6

1. Who Needs to Submit VAT Returns?

Any business with a taxable turnover above the VAT threshold (currently £85,000) must register for VAT and submit VAT returns. Even if your turnover is below this threshold, you can voluntarily register for VAT, which might be beneficial depending on your business circumstances.

  • VAT threshold: £85,000 in taxable turnover.

  • Mandatory registration: For businesses exceeding the VAT threshold.

  • Voluntary registration: Optional for businesses below the threshold.

2. How Often Do VAT Returns Need to Be Submitted?

Most businesses must submit their VAT returns quarterly, but some may choose to file them monthly or annually, depending on their cash flow and specific circumstances.

  • Quarterly returns: The most common submission frequency.

  • Alternative schedules: Monthly or annual returns are possible.

3. What Information Is Required on a VAT Return?

A VAT return typically requires details such as the total sales and purchases made during the period, the amount of VAT charged and paid, adjustments from any errors in previous returns, and the VAT on any imports or exports.

  • Sales and purchases: Total amounts during the period.

  • VAT charged and paid: Key figures for calculation.

  • Adjustments: Corrections from previous errors.

4. What Is Making Tax Digital (MTD) for VAT?

Making Tax Digital (MTD) is an HMRC initiative that simplifies tax reporting and makes it easier for businesses to keep their tax records up-to-date and accurate. Under MTD, most businesses must use compatible software to keep digital records and submit VAT returns.

  • Making Tax Digital (MTD): HMRC’s digital tax initiative.

  • Digital records: Required for MTD compliance.

  • Compatible software: Needed for submitting VAT returns.

5. What Happens If I Submit My VAT Return Late?

Submitting your VAT return late can result in penalties from HMRC, which can increase with repeated late submissions. Additionally, interest may be charged on any outstanding VAT owed.

  • Penalties: Fines for late submissions.

  • Interest charges: Applied to overdue VAT.

How The Tax Advisors Can Help

At The Tax Advisors, we understand that managing VAT returns can be complex and time-consuming. Our team of experienced tax accountants offers comprehensive VAT services, ensuring that your returns are accurate and submitted on time. We provide personalised advice tailored to your business needs, helping you easily navigate VAT regulations.

  • Expert advice: Tailored to your business.

  • Accurate returns: Ensuring compliance and avoiding penalties.

  • Timely submissions: Meeting all HMRC deadlines.

Why Choose The Tax Advisors?

  • Professional and Affordable: High-quality service at competitive rates.

  • Experienced Team: Skilled in all aspects of VAT and tax compliance.

  • UK-Based: Understanding of local regulations and requirements.

  • Comprehensive Support: From registration to filing and beyond.

Conclusion

Navigating the intricacies of VAT returns can be challenging, but with the support of The Tax Advisors, you can ensure that your business remains compliant and efficient.

Whether you need help with quarterly submissions, understanding MTD, or simply want to ensure you're claiming all possible VAT deductions, our team is here to help.

Contact us today to learn more about how we can assist with your VAT returns.

Get in touch

We cover Southampton (Hampshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for professional vat returns
Aldermoor The Straits Sandleheath Wimpson Andover Down Compton Water End Rushington Wallington Bell Hill Ball Hill Ewshot Oakridge Oakshott Rotten Green Black Dam East End Hardley Elson Upton Pooksgreen Abbotts Ann Upper Farringdon Fleet Weston Corbett Redbridge Swarraton Norleywood Stoke Common Freefolk Preston Candover North End Barford Peel Common Gore End Brighton Hill Empshott Vernham Bank Lower Common Shortheath Cadnam Ocean Village Ramsdean Ower Ibsley Cottonworth Buttsash Lyde Green Rushmere Lower Bullington Gobley Hole Keyhaven Curdridge Newnham Lowford Bleak Hill Winklebury Winchfield Colden Common Brockbridge Flood Street The Mount New Town East Woodhay Kings Worthy Portchester Rockford Copythorne West Common Gundleton Nursted Hurstbourne Tarrant Lower Wield Froxfield Green St Denys Goodworth Clatford Titchfield Common Wymering Whitway Chilton Candover Hazeley Bottom Stoney Cross Lepe Exbury Prince's Marsh Ibworth Segensworth Compton End Dry Hill Calmore Thornhill North Town Lymington Pitt North Gorley Netley Hill Bunstead Michelmersh Portswood East Aston Wheatley The Mint Baughurst Mortimer West End Lower Upham New Milton Hill Brow Easton Rake Common East Meon Pilley Weston Lord's Hill Crux Easton Cole Henley Cufaude Birchy Hill Fullerton North Street Durley Street Murrell Green Hazeley Lea Ashurst Old Milton Popham Upper Swanmore Newton Valence Rotherwick Little Somborne Vernham Street Beauworth North Boarhunt Grateley Stoke Andwell Belbins Shirley holms Bisterne Close Long Common Tufton Soberton Heath Little London Eastney Petersfield Pamber Heath Hamble-le-Rice Blacknest Netherton Hook Curbridge Warren Corner The Frenches West End Criddlestyle South Down West Meon Greywell Brockenhurst Valley Park Aldershot Nursling Hursley Tunworth Breamore Lyndhurst North End Silkstead Langley Chilworth Old Village Hangersley Isington Freemantle Woodcott Hartfordbridge Clanfield Hawley Kents Oak Bramley Corner Woodgreen Sandford Odiham West Leigh East Tisted Kingston Knapp Shootash Bramdean Farnborough Over Wallop Upham Morestead Wintershill Linkenholt Hythe Ladwell Highbridge Outwick Ropley Soke Kingsley Furzley Stonehills Ridge Anthill Common Upper Street Longstock Newtown Lower Buckland Bradley Bull Hill Baybridge Totton Winchester Hocombe Tiptoe Upper Burgate Gable Head East Oakley Pikeshill Emery Down North Charford Canada Church End Rye Common Lower Farringdon Droxford Ovington Nutley Middleton Hale Carter's Clay Harefield Hearn Hordle Appleshaw Long Sutton Bishopstoke Woodcot Shirley Fulflood Hyde Harbridge Standon Shawford Newtown Arford Barton Stacey Amport Upton Grey North Baddesley West Stratton Pound Green Passfield East Cholderton Stuckton Hillside Binstead Warnborough Green Kimpton Horsebridge Brown Heath Lynch Golden Pot Locks Heath Stanmore Hattingley St Cross Cove Hazeley Heath Foulford Lower Daggons Middle Wallop Headley Down West End Woodside West Tytherley Steep Marsh South Farnborough Weyhill Stubbington Otterbourne Glebe Bramshott Burghclere Common Merry Oak Wellow Wood Broad Layings Furzedown Newtown Privett Moortown Peartree Green Holbury Sarisbury Fleetlands Denmead Ellisfield Hoe Calshot South Weirs Rockbourne Lovedean North Houghton West Town King's Somborne Bridgemary Bentworth Chilcomb Wildern Lymore Privett Upper Slackstead Portmore Standford Lower Froyle Wootton St Lawrence North Hayling Ashton Millbrook Dora's Green Milford on Sea Foxhills Pennington Old Basing Wickham Buckskin Heath End Eversley Cross Broad Oak Daneshill Old Alresford Southsea Woodington Pondtail Medstead Fritham Stratfield Saye Wonston Port Solent Bransbury North Weirs Hammer Bottom North End Hartley Wespall West End Green Fawley Leckford West End Titchfield Winnall Houndmills Burley Beacon Frithend Portsmouth Holt Green, The Titchfield Park Swampton Tye Hunton Battramsley Anna Valley Kingsmead Cranbourne Overton Shirley Warren Waterditch Gosport Portsea Balmerlawn Widley Cheriton Exton Church Oakley Woodhouse Ashley West Heath Southrope Blackmoor Turgis Green Headley Pardown Axmansford Warnford Egbury Clarken Green Beckley Binley Mullenspond Upper Clatford Whitehall Lynch Hill Up Nately Cold Ash Hill Fleet Colemore Crondall North Waltham Blackfield Linford Filmore Hill Charlwood Burley Lawn Havant Waltham Chase Charlton Butt's Green Whitchurch Old Portsmouth Brambridge Dundridge Pylehill West Tisted West Ham Earlstone Common Upper Canterton Stoke Nether Wallop Golden Hill Crampmoor Turkey Island Heathfield Itchen Kingsclere Chineham Botley Shirrell Heath Dunley Godshill Conford Little Posbrook Hatchet Gate Sutton Scotney Nashes Green Mead End Ampfield Farleigh Wallop Somers Town Twyford Langrish Street End Battramsley Cross Upper Enham Romsey Hampton Park Critchell's Green Stamshaw Basingstoke Potbridge Rowner Lockerley Liphook Pamber Green Upper Shirley Hightown Great Shoddesden Landport Northington Totford Hardway Durrants Woolston Northfields Sandy Down Chalton Sladen Green Redenham Whitenap Ashford Montgomery Lines Silchester Hill Head Woolton Hill Penton Grafton Alton Lee-on-the-Solent Bitterne Park West Down Weston Patrick Hound Hawley Lane Up Somborne Catherington Ratlake Oakhanger Ripley Hawkley Cowplain Park Gate Wolverton Common Forest Gate Chilworth Spanish Green Tadley Penton Corner Inhurst Farnborough Green Burridge Hatch Bottom Pound Street Meon Stratfield Turgis West Wellow Ashmansworth Kimbridge Up Green Brook Hill Farlington Leigh Park Selsmore Mengham Bagmore Four Marks Lower Ratley Martyr Worthy Bashley Spearywell Avon Netley New Alresford Wildmoor Eastland Gate East Boldre Horton Heath Boarhunt Swanwick Swanmore Rowlands Castle Enham Alamein Southington Southwick Ashansworth Itchen Stoke Bickton Hook Park Rafborough Brockhurst Furzeley Corner Woodlands Baffins Lee Buriton Smannell Pucknall Whiteley Dunbridge Bartley East Worldham Popley Greatham Wherwell Steventon Bedhampton Headley Plastow Green Toothill Harbridge Green Fareham South Gorley Selborne North Kingston Beech Hannington Martin Drove End Weston Common Empshott Green Itchen Abbas Buckland Little Holbury Walhampton Hedge End Crowdhill Upper Bullington Blendworth Crow Frostlane Winslade Warsash Red Rice Owslebury Church Common Coxford North Ripley Grayshott Barton on Sea St Giles's Hill Crawley Clatford Oakcuts Blashford Oliver's Battery Hartley Mauditt Hill Side Northam Frogmore Fisher's Pond Weston Colley Tipner Sleepers Hill Church Crookham Hinton Sheet Upper Wootton Wadwick South Warnborough Westfield Newtown Horndean East Wellow Sparsholt Neacroft Stony Batter Micheldever Corhampton Hinton Ampner Red Hill Brockhampton Brook Goose Green Ossemsley East End Faberstown Highfield Blackwater Warren Corner Littledown Chidden Hollywater Braishfield Southwood Sway Otterwood West Worldham Lee Ground Mill Lane Northbrook Forton Abshot Steep Old Burghclere Egypt Bursledon Forton Quarley North Poulner Court Corner Lower Burgate Thruxton East Tytherley Warblington St Mary Bourne Colt Hill Hatherden Ropley Dean Emsworth Neatham Nob's Crook Blissford Yateley Woodmancott Woodley Mapledurwell Langstone Winchfield Hurst Ibthorpe Racedown Chandler's Ford Ashurst Bridge Holybourne Stoke Charity Anmore Littleton Butlocks Heath Bramley Green Wittensford Newton Stacey Newtown Boldre Bowling Green Shedfield Lower Swanwick West Heath Dean Ridge Common Lane End East Anton Broughton Highbury Tot Hill Liss Forest Shalden Rownhams Bentley Lower Brook New Brighton Little Ann Fox Lane Little Shoddesden Palestine Sholing Common Ragged Appleshaw Catisfield Drayton Vernham Row Knights Enham Eversley Hillyfields Oakley North Street Tapnage Wivelrod Highwood Blackdown Tote Hill Bidden Whitsbury Fryern Hill Ringwood Fair Oak Pamber End Bramshill Townhill Park Powntley Copse Heath Green Holt Pound Heather Row North Warnborough Griggs Green Clayhall Stony Heath Hurstbourne Priors Hazeley Latchmere Green Lower Bordean Brock's Green Midanbury Row Ash Dibden Purlieu East Dean Abbots Worthy Stroud North End Highclere Upper Common Mead End No Man's Land Three Ashes South Wonston Downton Long Park Stonymarsh Kilmeston Bramshaw Leagreen Sholing Bishop's Waltham Marchwood Southampton Whitehill Crockerhill Newtown Chawton Browninghill Green Crookham Village Bramley Stockheath Darby Green Old Netley Martin Beaulieu Hambledon Moorgreen The Butts Old Shirley Milton Worlds End Furzey Lodge St Austins Kitwood Boorley Green Broadgate Dummer Little London Vernham Dean Cosham Frogham Ecchinswell Hilsea Goose Hill Fyfield East Stratton Bossington Newfound Shirley Soldridge Fair Oak Stonyford Frenchmoor Fair Oak Green Nately Scures Harestock Cricket Hill Laverstoke East Martin Bitterne Frogmore Ogdens Hatch Warren Farnborough Street Winsor Hiltingbury Hatchet Green Headbourne Worthy Weston Bowling Alley Deadwater Clanville High Cross Allbrook Batt's Corner Gilbert Street Burley Charter Alley Waterford Flexford Bashley Park Sleaford Well Hillpound Hook Axford Ashley Bank Plaitford Green Bucks Horn Oak Liss Purbrook Maybush Houghton Shipton Bellinger Paulsgrove Bordon Linwood Upper Froyle Langdown King's Furlong Plaitford Bishop's Sutton Ashfield Eastrop Clayhill Chilbolton Down Thorney Hill Lower Turmer Boyatt Wood Ellingham Dipley Broadmere New Cheriton Newtown Custards Hawthorn Monkwood Monxton Tangley Minstead Rake Setley Lower Slackstead East End Coombe Hatt Hill Bransgore Brook Abbotstone Hoe Gate Broadoak Bassett Worting Deane Haughurst Hill Sopley Townsend Farnborough Park Shalden Green Ashford Hill Waterlooville Hightown Knowle Brown Candover Burgates North Oakley Bassett Green Mattingley Awbridge Ann's Hill Sydmonton Funtley Kingston Foxdown Northbrook Penton Mewsey Ashlett Chandlers Green Pheonix Green Newgrounds Durley Stockbridge Mockbeggar Ashe Eversley Centre Hounsdown South View Wigley Causeway The Dene Pilley Bailey Wildhern Bar End Hatch West Green Lower Pennington Wecock Nutburn Portsea Island Hillstreet Monk Sherborne Cuckoo's Corner Kingsclere Woodlands Avington Weeke Bighton Bucklers Hard Wilsom Hollington Cross Timsbury Fleetend Gosport Cupernham Faccombe Bailey Green Quidhampton Hill Top Northney Eastoke Herriard Newtown Copnor Blackhill Mill Green Soake Poulner Hensting South Ham Wyck Dibden Picket Hill East Liss North Camp Ramsdell Shorley Lordswood Chilbolton Lindford Lasham Sherfield on Loddon Fordingbridge Godwinscroft Eling Eastleigh Litchfield Turmer Halterworth Heath End Burley Street Wimble Hill South Baddesley South Hayling South Town Anchorage Park Wootton Mottisfont Stoner Hill West Meon Woodlands Sherborne St John West Liss East Green Swelling Hill South End Kempshott Penwood Meonstoke Sherfield English Hound Green Holt End Hollington Finchdean Swaythling Couch Green Dogmersfield Upton Bucket Corner Damerham Netley Marsh Heckfield Lane End Bowyer's Common Denvilles Durns Town Alverstoke Andover North Stoneham Testwood Tilly Down Dean Walton Heath Bisterne Burghclere Cliddesden Salters Heath Applemore Tichborne Upper Ratley Soberton Tidpit Furze Hill Compton Hartley Wintney Longparish Hyde Causeway London Minstead Lower Common Wheat Hold Ropley Ham Green Newtown Newbridge Upper Wield Hill Park Picket Piece Shobley Everton Fratton Thornhill Park