Vat and Tax

The ever increasing VAT, tax and company secretarial requirements placed on businesses can be an administrative nightmare. VAT or tax calculations and returns can be a complex area. E.g. knowing if items are zero rated, exempt or outside the scope of VAT may not be clear for the non-specialist. If importing or exporting within the EEC then Intrastat returns and EC Sales Lists may need to be completed. These can be disproportionately time consuming for a lot of organisations. Year-end tax returns, tax and capital allowance calculations can also place an extra burden on the administrative resources of a business. Limited companies have to comply with company law and meet other statutory reporting requirements and return deadlines.

Increasingly, penalties are levied against businesses that fail to comply with the strict deadlines for submitting returns and making payment. Late or inaccurate returns result in fines and interest charges, increasing costs and reducing profitability. If refunds are due, late or inaccurate returns can have a detrimental effect on cash flow. MAS Associates professionally qualified and experienced staff provide a VAT, Tax Return and Company Secretarial service that relieves you of the burden of completing these necessary returns, ensuring that all returns are completed correctly and all calculations are accurate. Our competitively priced service will be tailored to your specific requirements and level of information provided. Our service includes: VAT Returns – completion of VAT returns on a monthly or quarterly basis for clients on cash accounting or normal schemes. (This service is free if also using our bookkeeping service). Intrastat returns and EC Sales Lists. Tax Returns – completion of individual and business tax returns. Tax Calculations – calculation of corporation tax, individual income tax, capital allowances, balancing charges, NIC liability etc. Liaison with the Inland Revenue to agree tax liabilities and deal with queries. Company Secretarial - maintenance of share register, issuing of dividend warrants, filing of company forms and annual returns etc. Contact MAS Associates now to discuss your specific VAT, Tax Return or Company Secretarial requirements.

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Vat and Tax The ever increasing VAT, tax and company secretarial requirements placed on businesses can be an administrative nightmare. VAT or tax calculations and returns can be a complex area. E.g. knowing if items are zero rated, exempt or outside the scope of VAT may not be clear for the non-specialist. If importing or exporting within the EEC then Intrastat returns and EC Sales Lists may need to be completed. These can be disproportionately time consuming for a lot of organisations. Year-end tax returns, tax and capital allowance calculations can also place an extra burden on the administrative resources of a business. Limited companies have to comply with company law and meet other statutory reporting requirements and return deadlines. Increasingly, penalties are levied against businesses that fail to comply with the strict deadlines for submitting returns and making payment. Late or inaccurate returns result in fines and interest charges, increasing costs and reducing profitability. If refunds are due, late or inaccurate returns can have a detrimental effect on cash flow. MAS Associates professionally qualified and experienced staff provide a VAT, Tax Return and Company Secretarial service that relieves you of the burden of completing these necessary returns, ensuring that all returns are completed correctly and all calculations are accurate. Our competitively priced service will be tailored to your specific requirements and level of information provided. Our service includes: VAT Returns – completion of VAT returns on a monthly or quarterly basis for clients on cash accounting or normal schemes. (This service is free if also using our bookkeeping service). Intrastat returns and EC Sales Lists. Tax Returns – completion of individual and business tax returns. Tax Calculations – calculation of corporation tax, individual income tax, capital allowances, balancing charges, NIC liability etc. Liaison with the Inland Revenue to agree tax liabilities and deal with queries. Company Secretarial - maintenance of share register, issuing of dividend warrants, filing of company forms and annual returns etc. Contact MAS Associates now to discuss your specific VAT, Tax Return or Company Secretarial requirements. Send to a friend Printable version	Important VAT Return filing changes VAT returns for businesses with a turnover of at least £100,000 will need to be filed electronically for all VAT periods commencing on or after 1st April 2010.Businesses will need to enrol with HMRC for this and will need a computer with internet access. MAS Associates are pleased to provide an electronic filing service at no additional cost to our clients. Further details about the changes can be found on HMRC's website at http://www.hmrc.gov.uk/vat/vat-online/index.htm . For further information about our free electronic filing service call us on 01543 683631. ... More VAT Changes The standard rate of VAT changes to 17.5% on 1st January 2010. The VAT fraction will revert to 7/47. There are also changes to reporting requirements for those businesses dealing with cross border transactions within the EEC. If you require assistance with making these changes please call us on 01543 683631. Further information can be obtained from the HMRC website by following these links: http://www.hmrc.gov.uk/vat/forms-rates/rates/rate-changes.htm for the standard rate change and http://www.hmrc.gov.uk/vat/cross-border-changes-2010.htm for the cross-border VAT changes. ... More Financial News Fortis fined �576,000 by Dutch regulator Belgian insurance group reveals it was fined �576,000 by the Dutch financial regulator, which ruled that it had misled investors about its financial position in 2008 Myners to toughen bank pay disclosure rules Tens of thousands of UK investment bankers could be caught by a new government proposal that banks should disclose pay details for anyone earning more than �500,000 a year
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Vat and Tax

Important VAT Return filing changes

VAT Changes

Financial News