VAT
At SMH Group we offer a comprehensive service to help businesses stay compliant and maximise their savings.
What is VAT?
Value Added Tax is a tax on the value added to goods and services. It is a tax on consumer spending and is charged by businesses on the goods and services they provide.
VAT-registered businesses charge VAT on their sales and can reclaim VAT paid on their purchases. The difference between the VAT charged on sales and the VAT paid on purchases is the amount of VAT payable to HM Revenue and Customs (HMRC).
Why is compliance important?
VAT compliance is essential for businesses of all sizes. Failure to comply with regulations can lead to penalties and interest charges. It is crucial to stay up to date with the latest VAT regulations and to submit accurate and timely returns.
How can SMH Group help?
Our team of experienced professionals can help businesses with:
- Registration
- Compliance and returns
- Planning and advice
- Investigations and disputes
- We can also help businesses to maximise their savings by identifying areas where it can be recovered or reduced.
Our approach is to work closely with our clients to understand their business and provide tailored advice and solutions that meet their specific needs. We keep up to date with the latest VAT regulations and industry trends to ensure our clients receive the best advice.
Contact the SMH Chartered Accountants team on info@smh.group or 0114 266 4432 to discuss your requirements and find out how we can help your business.
