Key Information on VAT Schemes
There are two types of VAT; the standard rate VAT and the flat rate VAT. The standard rate allows business to claim back VAT on each entitled item that is bought or sold. The flat rate scheme was introduced for smaller businesses that turnover less than £150,000 annually.
Professional VAT Advice Swansea
Tim Taylor & Co pride ourselves on the professional service we offer with expert advice. We will ensure that each transaction and invoice is completed accurately and will help you with scheduling VAT payments as well as understanding the different VAT schemes.
Never file a late VAT return
Costly fines can be accumulated from late or inaccurate VAT returns. We will ensure that complex VAT returns are treated with accuracy and filed on time. At Tim Taylor & Co, we will help you select the appropriate VAT scheme, as well as conducting VAT health checks and registrations.
Using Xero for VAT Returns
Xero is a flexible online accounting system which enables you to digitise your VAT tax returns. Through Xero, you can easily see the VAT amount you owe HMRC or they owe you.

