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STRESS-FREE VAT FILING

VAT Compliance

Managing VAT can be time-consuming and complex. At Beany, we simplify the process, ensuring your VAT returns are accurate, timely, and compliant with UK tax regulations.

Solar pannel business owner

The benefits of expert VAT management

  • Assurance that all VAT is accurately accounted for each VAT period
  • Peace of mind that you're compliant with the latest tax regulations
  • Avoid costly errors that could lead to penalties or overpayments
Business owner

Beany's VAT service

  1. VAT return preparaton VAT rates applied to your transactions in Xero or QuickBooks are reviewed for accuracy
  2. Expert compliance check Any necessary corrections or adjustment are made (e.g. accounting for pre-registration expenses or prior period adjustments)
  3. HMRC filing Following your approval, we submit the VAT return to HMRC
  4. Payment reminders Email notifications of the amount owed and due date

GST FAQS

Frequently asked questions

Need more info about VAT returns and what's involved with using our VAT return service, have a read of our FAQs.
A VAT return is a report you must file with HMRC that summarises the VAT you’ve collected and paid over a specified period of time.For most UK businesses, VAT returns are prepared and filed quarterly. Based on the return, businesses either make a payment to HMRC or receive a refund.
If your taxable turnover exceeds £90,000, or you expect to exceed this threshold in the next 30 days, you need to register for VAT and start filing VAT returns. This applies to business owners, sole traders, freelancers, or contractors.
This depends on your filing frequency. For most businesses, VAT returns are prepared quarterly, with the VAT return due for filing and the VAT due to be paid 1 month and 7 days after the end of the quarter. For help with your due dates, check out our key dates page.
If you’re using MTD-compatible software (such as Xero or QuickBooks) then technically, yes. However, VAT rules can be complex, with various different tax rates to contend with, so we recommend using a professional to ensure you’re meeting your obligations.A VAT return is not just declaring the VAT on sales and the VAT on purchases, but also covers special transactions that might be zero-rated, VAT-exempt, reverse-charge or reduced rate. Manual credit or debit adjustments may also be required. A tax professional looks at all of this and makes the necessary corrections and adjustments when they’re preparing your VAT return.
Beany clients who use Xero or QuickBooks.We need to be linked to HMRC as your tax agent and have access to your financial records in order to process VAT returns.
  1. After the VAT period has ended, ensure all your transactions for that reporting period are reconciled in Xero or QuickBooks. (We will send a reminder, so you don’t need to worry about forgetting). If we manage your monthly bookkeeping, we'll make sure this is all sorted for you.
  2. Once reconciled, you press a button in our Beany platform to let us know that everything is ready to go and we can start preparing the VAT return. One of our VAT experts will get to work reviewing everything and making any necessary corrections and adjustments.
  3. When your VAT return is ready, we’ll let you know and ask you to approve it.
  4. We file it with HMRC and inform you how much you owe (or the refund amount if you’re due a refund).
  5. Relax, you’re all sorted. We also send payment reminders so you don’t miss the payment deadline.
Reconciling transactions - If you'd like some bookkeeping support, we can definitely help. View our bookkeeping service for details.VAT payment - We do not make any tax payments to HMRC on behalf of our clients.
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