VAT and Your Business
The keeping of proper books and records is not just for VAT purposes, it is also a legal requirement. A good bookkeeping system should allow you to determine at any time who you owe money to and more importantly, who owes you money! From the perspective of the Revenue Commissioners your VAT records must be kept up to date and must allow you to accurately determine and verify your VAT liabilities or refunds due. Books and records must also be retained, in their original form, for a period of 6 years.
At OfficeHelper we provide valuable support to many of our clients through the management of their financial function, which includes VAT compliance. We understand the importance of VAT to your business and by assisting our client’s we can remove the pitfalls and intricacies involved in being VAT compliant.
VAT returns have always been very complex and overwhelming for any business to handle which is not helped by the constantly changing rules and regulations. This has become even more complex with the impact of Brexit which has resulted in additional formalities and complexities for both suppliers and customers. There is also significant penalties applied if the correct procedures are not adhered to.
Let OfficeHelper guide you through the murky waters of VAT and ensure that your business is being complaint with current legislation and that Revenue deadlines are being met.