vat returns? can i file my own or do i need an accountant?
Tried to find the answer on HMRC'c website to no avail.... I don't need to be registered for vat just something im considering, i don't understand too much about it, i know basically you pay the vat when i buy building materials and i basically claim it back off the other stuff i buy, what i really need to know is can you file your own return for VAT or would it have to be done by a registered accountant? i file my own self assessment online, anyone sort of fill in the blanks for me?? chears steve
United Kingdom - 3 Answers
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Answer 1 :
You can file your own VAT Returns. From April this year, it must be done electronically though. If you take more than 70k per financial year, you can register for VAT not knowing your circumstances ie: just self employed or run a company, take my advice and ring HMRC direct .. this is the number to contact :0845 010 9000 Good luck
Answer 2 :
see www.sjmaccounting.co.uk for free bookkeeping software and VAT info
Answer 3 :
You can file your own quite easily. But don't forget that once you are registered, not only do you claim back the VAT you pay on your purchases but you have to charge VAT to your customers. Don't know what line of business you are in but be careful in case that makes you expensive compared to your competitors. If your customers are VAT registered themselves it won't make a difference but if you deal with the public then an extra 20% on top of what you currently charge (from January on when the VAT rate goes up) could make you uncompetitive.
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