Assessing and paying VAT & PAYE can have a significant impact on your cash flow. The professionals in our VAT and PAYE services team will provide thorough, professional guidance on all aspects of VAT & PAYE and free you from the often onerous burden of keeping up with the latest legislative changes.

As with any start-up, cash flow is important so payments of VAT and PAYE will impact your business significantly. By gaining effective advice from Berley, you can be sure that we’ll offer you a professional yet tailored approach to VAT and PAYE, so you can meet your business needs.

Value Added Tax

VAT and PAYE adviceVAT is chargeable for most businesses when they provide goods and services to other businesses or consumers. It is important as a new business to distinguish between the three different levels of VAT and when you need to register for VAT.

VAT is a complex area for many businesses, so by utilising the skills and expertise on offer from us you can be sure that your VAT records are in order and that you have effective systems in place to monitor input (VAT paid on your business purchases) and output tax (VAT charged out on sales) and be confident that the amount you are paying each quarter is correct. We keep a sharp eye out for VAT & PAYE changes that may benefit your business and help you extract maximum gain from them.

Berley will offer you practical advice on your turnover, the VAT threshold for small businesses and whether you should voluntarily register for VAT before you reach the threshold. There will be advantages and disadvantages for your business to do this and we’ll be happy to discuss all the options with you so you can make an informed decision.

In addition, if your small business leases or lets commercial property or land these are normally VAT exempt, however, there may be benefits to your business to opt out and pay standard rate VAT instead, so you can reclaim input tax. Berley Chartered Accountants will offer you advice on this and other options such as VAT Flat Rate Scheme and the advantages and disadvantages to ensure that you get the best possible solution for your business.

Pay As You Earn (PAYE)

If you employ staff you will have to process PAYE (Pay As You Earn) as part of your payroll. This system allows HMRC to collect all Income Tax and National Insurance contributions from your employees. In addition to tax and national insurance contributions, you may need to make other deductions such as student loans, pension payments or childcare voucher payments.

PAYE payments will be made to HMRC on a monthly basis usually, and again these can impact on your cash flow. There may be options open to paying PAYE contributions quarterly instead of monthly, but this will depend on the size of your business.

Whether you run payroll yourself or get a company to do it for you, your employees’ payments and deductions will be reported to HMRC around the time of each payday and the amount you owe, including employer’s National Insurance on any employee who earns more than £153 a week, will be calculated.

Berley Chartered Accountants will advise you fully on your PAYE responsibilities and how to ensure you receive any rebates such as maternity, paternity or adoption pay or to claim Employment Allowance, a new scheme operated by the government to provide businesses with a £2,000 rebate each year off their National Insurance bill. There are a number of other deductions to consider, depending on the type of business you are operating and we will offer you the guidance you need to make sure you get back every penny you are owed in rebates.

VAT & PAYE Services – What Berley can do for you

VAT & PAYE issues we help small companies with include:

  • Small business VAT Advice
  • Cash flow management
  • VAT Grouping
  • VAT Record keeping
  • Payroll administration
  • Small business PAYE responsibilities

Your main focus has to be your business and therefore you need to trust that your accountant will flag any necessary issues, provide you with the right advice and take care of you and your business well.

Berley Chartered Accountants pride ourselves on being that accountancy firm who will provide all of the VAT and PAYE services your firm needs. Solid and dependable yet forward thinking and providing a tailored approach to help smaller businesses just like yours because we know we can make a huge difference.

Contact us today

You can call us on 020 7788 8261, email us at info@berley.co.uk or complete our Free Online Enquiry and we’ll be in touch shortly.

If you’re interested in having a pair of ‘sharp eyes’ watching over your VAT & PAYE, or if you would like a full review of your small business VAT and PAYE responsibilities with an accountancy firm who is as progressive as you are, then get in touch today because we will be delighted to help you.