Employing a bookkeeper to help you keep on top of your VAT could save you some serious cash!
According to survey conducted by Censuswide in January/February 2021, UK Firms miss out on a staggering 12% of revenue by missing out on unclaimed VAT.
with 25% of finance leaders saying they don’t reclaim VAT due to employees submitting expense claims with missing or incorrect information and 25% not reclaiming due to different VAT rates for items on the same expense claim.
Thats 50% of unclaimed VAT that can easily be claimed with the help of a bookkeeper straight away.
An experienced bookkeeper can help keep your taxes on time and stress free. We will always be up to date and in the loop for any new Systems HMRC implement and so we can Aid you in avoiding any nasty penalties.
HMRC is introducing a new points-based penalty system for late submissions, starting from April 2022 for VAT customers. For those submitting Income Tax Self Assessment (ITSA) and whose businesses and property income is over £10,000 per annum, the new system comes into effect from 6 April 2023.