Understanding VAT
VAT (Value Added Tax) is a tax you add to the price of many goods and services. If your business earns over £90,000 a year, you usually have to register for it. But there's a lot more to it than that - and getting it wrong can be costly.
That's why Swansea business owners trust our partner to get it right.
Why Swansea businesses seek VAT support
Here's why so many business owners in Swansea trust our partner for VAT support:
- 💷Clear, affordable pricing - Fixed monthly fees with no surprises
- 🎓Real accountants - Get advice from qualified VAT experts, not ChatGPT
- 📧Online or by post - Send your paperwork however you prefer
- ✅HMRC compliant systems - Our partner stays on top of the rules, so you don't have to
- 🤝Friendly, human support - No jargon, just help when you need it
What VAT services do you get?
Our partner offers a full range of VAT services to make life easier for Swansea businesses:
- VAT returns
Support preparing and submitting your returns accurately and on time
- Making Tax Digital (MTD)
Ensure your records are digital and compliant
- Advice on VAT schemes
Advice the best option: Flat Rate, Standard, or Cash Accounting
- Ongoing supportAsk questions any time, big or small
What to expect from your VAT accountant
When our partner manages VAT returns for Swansea businesses, so you can relax knowing it's sorted properly and on time. Here's how it works:
1. Organise your records
Your bookkeeping is kept up to date with clear records of what you've charged and paid in VAT.
2. Prepare your return
Your VAT accountant will ensure the figures are accurate and compliant.
3. Submit to HMRC
Your VAT return is filed to avoid penalties, and you'll receive reminders about future VAT deadlines.
It's fast, reliable, and one less thing for you to worry about.
FAQs about VAT in Swansea
Do I need to register for VAT?
Yes, you need to register for VAT if your total sales in a 12 month period go over £90,000. If you're under that amount, you can still register voluntarily (and sometimes that's smart). We'll guide you either way.
How often do I have to submit a VAT return?
Usually every 3 months (quarterly), but some businesses in Swansea file monthly or annually. Our partner keeps you on track and submits on your behalf.
What happens if I miss a VAT return deadline?
HMRC can charge fines and interest. Even a small delay can cost you. Our partner ensures you never miss a deadline.
What is Making Tax Digital (MTD), and does it affect me?
All VAT-registered businesses in Swansea must use digital software to keep records and submit returns. Our partner's service is fully MTD-compliant, so you don't have to worry about tech or rules.
Can I claim VAT back on purchases?
Yes, if you're VAT registered and the item is for your Swansea business. Our partner makes sure you don't miss anything you're allowed to claim.
Which VAT scheme is best for my business?
Our partner will assess your business and recommend the most efficient one, for example, Flat Rate is simpler, Cash Accounting helps with cash flow, and Standard works for most.
Can you help me switch from my current accountant?
Yes. We'll contact them, transfer your records, and handle the transition so it's smooth and stress-free.
About the author
Lucy Cohen is a co-founder of Mazuma. Lucy is an innovator in the accounting industry. She pioneered subscription-based, low-cost accounting services to help business owners navigate tax and bookkeeping stress-free. Lucy is a recognised expert, contributing regularly to publications such as Accounting Web. She has received numerous awards, including the Outstanding Contribution Award at the Accounting Excellence Awards and the AAT Past Presidents Award for her exceptional contributions to the profession.
This page was last reviewed by Lucy Cohen on 2 June 2025.
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