An online accountant can act as an officially registered Agent on your behalf, providing everything you need for each stage of the VAT process, from registration to returns to rectifying any issues. They will also provide you with software which can automatically work out what you owe based on your transactions, as well as:<\/p>\n
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VAT Registration: Accountants can check you are eligible for registration, obtain the forms with your VAT Number on, and ensure all of your details are correct and ready for submission. An accountant can also monitor your situation and suggest whether you can de-register at any point<\/li>\n
VAT Returns: From checking your bookkeeping for any inaccuracies to calculating turnover and filling out the online forms\/sending them directly to HMRC. They can also give VAT scheme recommendations based on your customer and supplier payment habits, for instance, if payments are regularly delayed. Your due date will depend on when you registered<\/li>\n
Correct Payments: Not only do you want to be paying as little as possible to HMRC in VAT, but you will also be wanting to claim back as much as possible. Accountants spot any claims you may have missed, for instance, on obscure items or transactions, and categorise them for you<\/li>\n
Timekeeping: If quarterly VAT payments are not filed before a certain date, then fines and penalties can be ordered. There may be added interest, which isn\u2019t good for your finances. An accountant can ensure everything is submitted correctly and in plenty of time, and you can also use software to check dates<\/li>\n
Investigations: An accountant can act on your behalf if HMRC needs to investigate your claims. This can be at random, because figures you have submitted to them do not look correct, or if you are in an industry with particularly complicated returns or a high level of inaccuracy. If you have appointed an accountant, then there is little risk of things being wrong<\/li>\n<\/ul>\n