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£14,000 VAT SWING FOR A NEW CLIENT

I’ve just completed my first VAT return for a new client who works as a sound engineer.

They work internationally at festivals, provide sound engineering services and rent equipment abroad, working on events involving some of the biggest DJs in the world.

When I first reviewed their VAT position, they were looking at a VAT bill of £9,500.

But something didn’t look right.

After reviewing their transactions, I found they had been charging 20% UK VAT on certain overseas supplies where the correct VAT treatment meant they were outside the scope of UK VAT.

I made the necessary adjustments before preparing and filing their VAT return.

The result?

Original VAT due: £9,500

VAT refund due: £4,500

That’s a £14,000 difference in their VAT position from reviewing the treatment properly.

This is why VAT shouldn’t just be about taking the figures you’re given and filing the return.

If your business works internationally, supplies services overseas or has more complex transactions, the VAT rules can make a huge difference to your cash flow.

A good accountant doesn’t just file the numbers.

They question them.

Something I’ve been thinking about recently is how people value someone’s time.

My clients can call me, email me or message me whenever they need to. I don’t send them an invoice every time they ask a question. That’s all included in their monthly fee.

But every phone call, every email and every bit of advice still takes my time.

More importantly, it takes the knowledge and experience I’ve spent years building.

For me, it’s never just about filing tax returns or preparing accounts.

I enjoy helping my clients make better financial decisions, grow their businesses and think through the challenges that come with being a business owner.

I’m not just an accountant. I’m a business owner too.

I understand the pressures, the decisions and the uncertainty that come with running a business because I deal with them myself.

That’s why I like to be someone my clients can pick up the phone to, bounce ideas off and trust for honest advice.

Time is priceless.

Knowledge is earned.

If I can help someone avoid an expensive mistake, improve their cash flow or make a better business decision from a 10-minute conversation, then that’s where the real value lies.

One thing I always tell business owners is this:

Good accountants don’t just file returns. They find what others miss.

A construction client joined me in November last year. Since then, I’ve been managing his VAT returns and making sure VAT is reclaimed correctly on all eligible expenses.

While reviewing his full-year accounts, I spotted a £7,000 vehicle payment from before he became a client where no VAT had been claimed back.

After checking everything properly, I managed to reclaim just over £1,100 back for him.

That money would have been completely missed otherwise.

This is why detailed reviews matter. Small oversights can cost businesses thousands over time.

🚨 HMRC ANNOUNCEMENT 🚨

From next tax year, all dog owners must complete a Dog Assessment Tax Return.

You’ll need to declare:
– Number of treats issued per quarter
– Sofa damage (capital allowances may apply)
– Emotional support provided (non-taxable for now)
– Walks completed vs walks cut short due to rain

Failure to comply could result in penalties… usually enforced by a very disappointed Labrador.

APRIL FOOLS 😂

But the tax year is about to end.

And this part isn’t a joke — most people leave it too late, miss expenses, and end up paying more than they should.

If you’ve got a business (dogs involved or not), now’s the time to get everything checked before the deadline hits.

Send me a message if you want a reliable, down to earth accountant who will work with you closely and be there every time you need them!