BOOKKEEPING & VAT SERVICES
EP Tax can help if you need to prepare VAT returns, or if you think you may need to register or deregister for VAT.
We deal with quarterly or annual returns, standard or flat rate schemes and accrual or cash accounting schemes. Our VAT team makes it their mission to make sure our clients are on the most beneficial scheme to pay as little VAT as possible. We also work hard to explain to them how VAT works and the options available.
Value Added Tax (VAT) is a tax charged on goods and services by a VAT registered business. VAT is generally charged at a standard rate (20%), although there is also a reduced rate (5%) and a zero rate that apply to some goods and services.
Businesses that are VAT registered must charge VAT at the appropriate rate on their sales. Any VAT charged to customers must be paid to HMRC after reclaiming any allowable VAT claimed on purchases. In effect, VAT registered businesses are collecting the tax on HMRC’s behalf.
VAT IS COMPLEX AND EVER-EVOLVING TAX, SO IT'S IMPORTANT TO SEEK EXPERT ADVICE.
BELOW IS A LINK TO HMRC'S OVERVIEW ON VAT.
OUR VAT GUIDE COVERS ALL INCLUDING:
We have created our own VAT guide, where we’ve tried to explain the basics in an easy to understand, non-jargon format. Our guide covers:
- Who needs to register for VAT?
- Voluntary Registration
- The different rates of VAT
- Responsibilities of VAT Registered Businesses
- The Annual Accounting Scheme and the Flat Rate Scheme
- Making Tax Digital
- VAT Deadlines
OUR VAT SERVICES PRICING MAY SURPRISE YOU...
VAT & Returns
£55 + VAT quarterly returns
£160 + VAT annual returns
Basic = £80 + VAT
Full = £160 + VAT
What You Get
Assess the most beneficial VAT schemes for the business (Flat Rate or Standard, Annual or Quarterly, Cash or Accrual)
Provide any relevant guides and information regarding VAT and the registration
Registering for VAT with HMRC
Providing information in relation to any potential claim to Pre-Registration VAT
Assisting as much as possible with the set up of your systems to handle VAT (e.g. setting the VAT up correctly on your software, checking invoices are VAT compliant)
Up to hour meeting on teams or in office to discuss the VAT rules in relation to your trade and set up. Providing an overview of how VAT works.
Assisting as much as possible with a Pre-Registration VAT Claim
Sign up for Making Tax Digital (MTD) and check systems are HMRC compliant
Send welcome email once VAT number arrives along with any other useful information
Book a FREE 15 minute chat with our VAT expert, Anna Sharlott
EP Tax provides bookkeeping services to any size business. Our bookkeeping service is tailored to you and we will use the most suitable and cost-efficient system available.
Bookkeeping is the recording, storing and retrieving of financial transactions for a business. Common financial transactions include billing for goods sold or services provided to customers and recording payments received and keeping a log of purchases make (this includes categorising purchases and treating them correctly for tax).
We spend time listening to our client’s needs and requirements so that we can find the easiest bookkeeping process – whether that’s you dropping off invoices in a carrier bag each month or helping you ‘fine tune’ the in house use of accountancy software.
We also offer bookkeeping training for those wishing to maintain their own records. Our bookkeepers are fully experienced in manual excel systems, Sage, QuickBooks and Xero and more. We are a Xero accredited practice and we are proud to boast a total of 6 Xero accredited bookkeepers.
BOOKKEEPING COST MATRIX
Number of Transactions
31 – 50
51 – 70
71 – 100
101 – 150
Cost per month
£35 + VAT
£50 + VAT
£65 + VAT
£90 + VAT
£100 + VAT
BOOKKEEPING SERVICES TAILORED TO YOU
A ‘one size fits all’ DOES NOT WORK when providing bookkeeping services. Some clients like to hand everything over (we have clients who would bring in their ironing if we let them), and some prefer to hold the reins as much as possible, outsourcing the tough stuff only.
We tailor our service based on our client’s needs, not our own – and we’re completely upfront with our prices from the start. We’re also flexible with our services, so we can quickly adapt to a new way of working if a client picks a package and then changes their mind.
We don’t believe in charging an hourly rate – as it doesn’t help clients budget for our fee. Please see our prices page for our fixed costs; due to the range of services on offer, it is challenging to try and explain them on one page, so if you would like a tailored quote, please do get in touch.