VAT
- Home
- Services
- Accounts
- VAT
Services
VAT
Businesses with taxable supplies exceeding £85,000 need to be registered for VAT. Under Making Tax Digital, from April 2019 in most cases, they need to keep their records and file their returns digitally. If your turnover is below £150,000, you may benefit from one of the many flat rate schemes. Whilst your turnover is under £1.35 million, you can account for VAT on the cash basis, otherwise you will need to account for VAT on the accruals basis (i.e on the basis of invoices sent/ received regardless of payment).
We support Clients by:
- Advising on appropriate bookkeeping software
- Advising on appropriate filing software, including bridging software for spreadsheets
- Advising on VAT reporting requirements
- Advising on flat-rate and other schemes (such as the second-hand goods scheme)
Services
VAT
Businesses with taxable supplies exceeding £85,000 need to be registered for VAT. Under Making Tax Digital, from April 2019 in most cases, they need to keep their records and file their returns digitally. If your turnover is below £150,000, you may benefit from one of the many flat rate schemes. Whilst your turnover is under £1.35 million, you can account for VAT on the cash basis, otherwise you will need to account for VAT on the accruals basis (i.e on the basis of invoices sent/ received regardless of payment).
We support Clients by:
- Advising on appropriate bookkeeping software
- Advising on appropriate filing software, including bridging software for spreadsheets
- Advising on VAT reporting requirements
- Advising on flat-rate and other schemes (such as the second-hand goods scheme)
Testimonials
Client Feedback
See how we've assisted our valued clients in their own words.
TopCashback
We have used Citrus Group since the early days of establishing our business (6 years) for Audit, Payroll Processing, Taxation and Business Advice and have always found their advice to be responsive and commercial. As well as being professional, the team at Citrus Group are very down to earth, friendly and approachable so you never shy away from picking up the phone to ask for some quick advice - but this doesn’t detract from their ability to grasp complex matters quickly, even under pressurised situations and to deliver sensible pragmatic advice.
Edmonds Accounting Services Ltd
Thank you for the assistance provided particularly in relation to the transition from UK GAAP to FRS102 and for enabling us to submit the accounts within the prescribed time frame. As discussed during our work, the rationale behind much of the transition adjustments was unclear and your assistance, which we are aware was often provided outside normal office hours, proved invaluable and was very much appreciated.
Cross Rhythm
Citrus Group have audited Cross Rhythms charitable accounts for the last 6 years. Their work is of a high standard. They are both professional and friendly in their approach. I’ve also found their fees to be very reasonable.
Hylands Ltd
Citrus Group have looked after all our accountancy needs in a very professional and dependable manner for the last 25 years. They are also a source of sound business advice and provide full payroll facilities which we have been pleased to use for many years. In conclusion we have no hesitation in recommending Citrus Group to any potential client.