VAT Returns
VAT Returns Peterborough
Figures UK handle VAT registration, quarterly returns, and Making Tax Digital compliance for businesses in Peterborough and across Cambridgeshire — all as part of your fixed monthly fee.
Making Tax Digital Compliant
VAT Returns Filed Accurately, On Time, Every Quarter.
VAT compliance is one of the most common sources of HMRC penalties for small businesses — late returns, miscalculated output tax, missed MTD obligations. Figures UK remove all of that risk.
We manage your VAT using Xero, which is fully Making Tax Digital compliant. Your bank transactions are reconciled monthly, VAT is calculated accurately on each return, and submissions are made directly to HMRC through the MTD gateway — well ahead of the deadline.
As a Xero-only firm — one of the very first in the UK to adopt Xero with our clients, alongside receipt extraction software — Xero is genuinely at the heart of everything we do, not an add-on.
VAT returns are included within your all-inclusive fixed monthly fee. Whether you are approaching the registration threshold for the first time or already VAT-registered and looking for a more proactive accountant, Figures UK are here to help.
Our VAT service in brief
What We Cover
Our VAT Services
Quarterly VAT Returns
We prepare and submit your VAT returns every quarter via Xero — fully Making Tax Digital compliant. Returns are filed well before the deadline to avoid HMRC surcharges.
Making Tax Digital Compliance
MTD for VAT is mandatory for all VAT-registered businesses. Figures UK uses Xero to keep your digital records and submit directly to HMRC — you don't need to do a thing.
VAT Registration
Approaching the VAT threshold (currently £90,000)? We advise on the right time to register, handle the HMRC registration, and set up Xero for VAT from day one.
Flat Rate Scheme Advice
The VAT flat rate scheme can simplify your accounting and sometimes save money — but it depends on your sector and turnover. We assess whether it is right for your business.
VAT Scheme Selection
Standard rate, cash accounting, annual accounting, flat rate, or margin scheme? We advise which VAT scheme minimises your liability and administrative burden.
VAT Investigation Support
If HMRC opens a VAT inquiry or requests a VAT inspection, Figures UK act as your agent — communicating with HMRC directly and representing your interests throughout.
Common Questions
VAT Return FAQs
How easy is it to switch accountants, and can you take over partway through the year?
Very easy — and yes, you can switch at any point in the year. As one of the very first UK firms to use Xero with clients, we make the handover seamless: we request your records, migrate your books into Xero, and handle the transfer to HMRC and Companies House for you. There's no disruption to your deadlines and no need to wait for year end.
What is Making Tax Digital for VAT?
Making Tax Digital (MTD) requires all VAT-registered businesses to keep digital records and submit VAT returns through MTD-compatible software — such as Xero. HMRC no longer accepts manual VAT return submissions via the online portal for MTD businesses. Figures UK manages your entire MTD VAT compliance as part of your monthly service.
When do I need to register for VAT?
You must register for VAT when your taxable turnover exceeds £90,000 in any rolling 12-month period (as of 2024/25). You can also register voluntarily below this threshold, which can be advantageous if you have significant VAT-registered suppliers. Figures UK advises on the right approach for your business.
What is the VAT flat rate scheme?
The flat rate scheme allows eligible businesses (turnover under £150,000 ex-VAT) to pay a fixed percentage of their gross turnover to HMRC rather than calculating VAT on every transaction. The rate varies by sector — from 4% for food retail to 14.5% for management consultancy. It simplifies administration but is not always financially beneficial. Figures UK calculates whether the scheme would save you money.
What happens if I file my VAT return late?
HMRC's points-based penalty system means late VAT returns accumulate penalty points. At 4 points you receive a £200 fixed penalty, plus further penalties for each subsequent late return. HMRC also charges interest on late VAT payments. Figures UK ensures all returns are filed on time as part of your fixed monthly fee.
Is VAT included in my monthly accounting fee?
Yes. VAT returns are fully included within your fixed monthly fee — £73/month for sole traders on Making Tax Digital and from £220/month for limited companies. There are no additional charges for VAT preparation, MTD submissions, or ongoing VAT advice.
Get In Touch
Get In Touch With Us
Want a fixed monthly quote or a quick chat about switching accountants? Send us a message — we'll reply with clear next steps.
Worried about switching? Don't be.
You can move to Figures UK at any point in the year — no need to wait for year end. We handle the entire handover, including moving your records and transferring everything to HMRC, so the switch is seamless and stress-free for you.