Accounting support for VAT in England

Do you sell goods and services in England? Import from England to non-EU countries or receive goods/services from EU countries to a UK company? There is a possibility that your company needs to register a VAT number in England.

How can we be useful to you?

Preparation of the annual report

We will help you prepare a report based on your primary documents in a timely manner.

Filing a Tax Return

We will complete and submit your company’s tax return. We will take control of the timing of filing and communication with the tax authorities.

Representation

We will help you pay taxes and represent your interests before the English tax authorities

Options for VAT registration

Terms and cost of VAT number registration

6-8 weeks

700 euros

Frequency of reporting

quarterly

Cost of preparing reports

from 450 euros / quarter*

* The cost of the service depends on the number of transactions you make and can be adjusted after the initial consultation

What forms do the financial statements of companies in England consist of?

England

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When are UK companies required to register a VAT number?

If your total taxable VAT in the last 12 months has exceeded £85,000 (the VAT threshold) or if you expect your turnover to exceed £85,000 within the next 30 days

Procedure for preparing
reporting in the UK

Collection of documentation

– Incoming and outgoing invoices or sales uploads from the marketplace;
– Statements of all company accounts;
– Description of the business – sales channels, information on the movement of goods from seller to buyer, product category.

Preparing and submitting reports

– Processing of incoming information;
– Preparation of declarations and their approval with the client;
– Sending reports to the tax authorities of the respective country;
– Checking and signing CPA declarations;
– Control of tax payments;
– Resolving difficulties and disputes (if any).

To start cooperation, please contact us in any convenient way:

Group 181

leave a request

Group 179

or call the number

The initial legal consultation is free of charge and does not oblige you to do anything.

Information help

The deadline for filing a VAT return is usually one calendar month and 7 days after the end of the reporting period.

Generally, if you charge your customers less VAT than you paid on your purchases, Her Majesty’s Revenue and Customs (HMRC) will refund you the difference on application. You can apply for a VAT refund once a calendar year. The refund is only available for goods purchased no more than 3 years before VAT registration or services provided no more than six months before registration. These goods and services must be used to support the business’s own activities. They cannot be goods for further sale. They must be reflected in the company’s financial statements and be on the company’s balance sheet at the time of registration and VAT refund.

Late filing and payment of VAT will result in penalties and interest on the amount of tax owed. If you are 16-30 days late, you will receive the first penalty of 2% of the VAT due on the 15th day of the delay. If the payment is 31 days overdue, a 2% penalty is added to the 15-day penalty. If the payment is overdue by more than 31 days, it must also be paid in addition to the first two penalties. You will be charged another daily penalty of 4% per annum for the overdue period.

If the place of supply of the service is the EU (the standard rule), then VAT does not arise. For an English company, this will be an export of the service, and for a European company, it will be an import. In this case, your European partners will not pay VAT, and you will not be obliged to obtain such a number.

Thus, the VAT reporting procedure in England is designed in such a way that any business can submit reports independently. We recommend learning more about how to do this on official resources: Basic Principles and Legislation: https://www.gov.uk/how-vat-works

Get a free accounting
consultation
from our specialist

“If you sell goods or services to UK customers, you will need a UK VAT number in most cases”

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Kateryna

Accountant

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