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White Knight - VAT Accounting
 
 
 
     
  How and Why?

VAT is a headache for most businesses. But it can be an absolute nightmare for smaller retailers.
 
     
 

Newsagents, post offices and convenience stores sell a variety of goods. These are a mix of standard and zero rated goods with a wide range of profit margins applied to them. An incorrect choice of VAT retail scheme can mean paying VAT on profits that you have not made.

News delivery charges, phone card top-ups, lottery, Paypoint, video hire, dry cleaning, hot food, plus many other factors, all affect the VAT payment and make the calculation more complicated.

Why do so many retailers get it so wrong?

· There are at least eight different schemes to calculate your VAT
· Most of the schemes are far too complicated for retailers to work themselves –
and even for most accountants!
· Some of the most commonly used schemes actually warn that you may overpay
VAT!
· The most advantageous schemes, used by the superstores and multiples, are
generally deemed ‘too complex’ to operate

We can save you money

Here’s how White Knight can help you:

· We use our expert knowledge and software to calculate all VAT Retail Schemes
and find the best for your business
· We have already saved £1,000s for businesses all over the UK
· We personally collect your paperwork and return it, usually within just five working
days, discussing any relevant points at the time
· We are available to assist with VAT control visits
· You can ask us for help or advice anytime

 

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