VAT registered businesses must provide HM Revenue & Customs with regular summaries of VAT transactions in a specific period in the form of a VAT return.
A VAT return provides HMRC with the following information:
For certain businesses and to help simplify matters there is a Flat Rate Scheme. Those businesses using this scheme apply a single percentage to its total flat rate turnover for the period with the resulting figure being the VAT payable.
The Local Bookkeeper prepares many VAT returns each year for clients. If you would like help completing your VAT return do not hesitate to contact us at http://crawley.tfmcentre.co.uk .
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