We have dealt with a few VAT enquiries over the 22 years we have been providing bookkeeping services and submitting monthly and quarterly VAT returns and we are very proud of the fact that none of our clients have received a penalty.
For all of the 22 years we have been providing bookkeeping services to clients we have been submitting monthly and quarterly VAT returns. So we know a bit about VAT.
Business owners may think that they can claim back VAT on everything they purchase which has VAT on it, but it may surprise them to know that VAT cannot be claimed on certain purchases.
As a VAT registered business you must provide a valid VAT invoice to your customer (or a till receipt with your VAT number).
As soon as you become VAT registered you need to find out when your first VAT return is due and the period which it covers.
