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Mitch Hahn
CEO - Nordens
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More Than Just Accountants
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Get in touch today to discover how Nordens can revolutionize your business.
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Accounting
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Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
• Agriculture
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Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Discover why 175 businesses have voted our service as 5 star
Mitch Hahn
CEO - Nordens
Get In Touch
02085300720
enquiries@nordens.co.uk
The Retreat, 406 Roding Lane South, Woodford Green, IG8 8EY
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Contained in VAT Returns are the estimates of sales and purchases, the amount of VAT that can be paid or reclaimed, and the VAT refund from HMRC. These Value Added Tax Returns are to be presented to HM Revenue and Customs (HMRC) – whether you have VAT to pay or not, you still need to do this. The amount payable to HMRC can be calculated as the amount of VAT due on sales deducted from the amount of VAT reclaimable on purchases. Meanwhile, VAT claims cannot always be made on purchases meant for entertaining clients or non-business use, for example. Also, there are strict penalties for errors in the VAT Returns; this is why hiring the services of an accounting firm is essential.
Going through the process of VAT Returns can be stressful. And having to go through it four times in a year can be tedious. In fact, when you have other things to spend time on in the business, it is best you look out for accounting service providers to handle this aspect of your business for you. Our clients know us to be reliable and dependable, and that is why we are trusted with managing VAT Returns. With Nordens, your time can be spent on your business while our teams of professional accountants provide you with VAT Return services. More than anything, Nordens carries out the duty of an intermediary between its clients and the HMRC.
You can complete your VAT Returns with us, and we are even prepared to assist with digital VAT Returns. We have the right resource tools in our accounting software to calculate your VAT Returns. Having helped you understand your VAT Return requirements, we will proceed to consider the payment scheme that works for your business structure (limited costs or unlimited costs), and we will see to setting your VAT period. All things being equal, Nordens will prepare and deliver your VAT documentation via post or electronic mail no less than the fifth or sixth day of the current month for the previous month.
Nordens premium service is designed to support you in your VAT Return calculations and formulations.
Our highly qualified ACCA accounting team can handle even the most complex VAT return situations.
VAT Liability Calculations
VAT Return Submission
HMRC Communication
Expert ACCA Accounting Advisors
Dedicated Account Manager
Here at Nordens, we know the struggle of understanding technical jargon. To help you out with the terms and the taxes, we have compiled the questions we get everyday:
Value Added Tax (VAT) is a tax charged on goods and services exchanged between a business and another, or a business to an end user. It is an indirect tax because a VAT registered business firm already paid for it to HM Revenue and Customs. This distributes the burden on the goods and services for which the tax was paid at a rate that is applicable to each unit. For example, if a shirt is sold for £50 and the rate of VAT is 20%, it means the sum of £10 is payable to HMRC.
A business can claim Valued Added Tax on items purchased up to four years before registering, and even services as far as the six months that preceded registration. Nevertheless, be aware that the need to claim VAT depends on your circumstances. It could be any of the following:
• When you realize that bills have been omitted in your VAT workings
• When you have newly registered for VAT
Given any of the above circumstances, HMRC allows you to claim back VAT. However, you must be able to provide proof-like receipts.
As an accountancy firm, what we first try to make our clients understand is that there is a limit to what can be reclaimed. Usually, VAT can be reclaimed on goods and services purchased strictly for business use. Thus; VAT can be reclaimed on office gadgets like laptops, stationery, parking lot costs, car rentals, gifts purchased for employees, to name a few. On the other hand, you can also reclaim VAT on any personal item that is being used for the business. For example, if you work from home and you had to set up an office, you can claim VAT on the space being used for the businesses related activities.
VAT has different charge rates depending on the type of goods and services. In countries like the United Kingdom where Value Added Tax is used, some goods and services may enjoy exemption. In this scenario, such goods and services are zero-rated, or in other terms, no Value Added Tax rate applies to it. Usually, they are domestic items which are never out of daily use. Examples of goods and services that are zero-rated include the following:
• Food items and beverages
• Goods and services given to charity organisations
• Training/work equipment for the disabled
• Medication
• Water and waste transportation services
• Books and other readable items like newspapers
There are also rules that apply to VAT on business vehicles and the fuel purchased to run them: if a company pays for business fuel, VAT charges are applicable. This is otherwise described as a fuel scale charge, and it depends on the capacity of the vehicle. Since VAT can be paid on business fuel, it can also be reclaimed. On the other hand, if the mileage covers private and business activities, you have to pay the appropriate fuel scale charge for your vehicle. Above all, do not forget to keep a record of the mileage.
• 20% as the standard rate
• 5% as the reduced rate
• 0% as the zero rate
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.
Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.
Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.
Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.
Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.
With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.
Voted as EXCELLENT - 9.9 out of 10 based on 167 reviews
Director - Metro Bank
Nordens are always very easy to deal with and extremely professional and efficient. I would have no hesitation in recommending them to my clients for their accountancy needs, no matter how complex they may be.
Co-Founder - Chicmi Limited
Very good to work with - the team go above and beyond to make the accounts easy and efficient. They're all super friendly and a joy to work with.
Director - Rose Opticians
I have been using Nordens Chartered Accountants for 5 years and very happy with the service provided. All members of the team are very knowledgeable and have a wealth of experience which has proved very beneficial to my organisation
Founder & Director - Physio LDN
Very easy to contact and put me in touch with the right person whenever I need to ask any questions. Extremely knowledgeable and can help me manage my various businesses whenever I need.
Principal - Pauline Quirke Academy
Great accountants, always available to offer advice. The team have transformed my business.
Founder - Dataphone
Having worked with Nordens over the last 5 years, not only to look after my annual accounts but they have also provided outstanding professional advice. They have guided me through a Company share buyback with clear and objective advice. We have also been using Nordens strategic services for a couple of years, which has helped bring about significant improvements that exceeded my expectations. With experience of working with several local accountants over my 29 years in business, I’m very pleased with the service I have received from Nordens.
Director - Linekers
Trusted our business with Nordens for over 10 years now and watched the company grow into the successful innovative business it has become today. Deservedly so. Every aspect of financial advice we need is always given promptly and with a smile. We have total confidence in all aspects of advice Nordens give. If you are looking for accountants, its a no brainer!
Founder - Foundation Sports Limited
A fantastic, modern, vibrant firm that care about the clients and their staff in abundance. It is rare to find an Accountancy firm with such vibrance and focus and relationships. It is no wonder they win award after award in their field.
Managing Director - Prime Time Boilers
I have been with Nordens for many years now and they are a great accountants.
Founder - Vivid Finishes
We have used Nordens for the last 5 years and have had a great service throughout. The guys are very passionate about what they do and have played a part in the growth of our company, highly recommended.
Managing Director - AMD Interior Architecture
Great Service at Nordens from a friendly very approachable team Particularly Kirsty Willis and Joe Sword who have been helping us since we started the business in 2016.
Director - Forma London
Nordens provide a first class service. We moved to Nordens last year and have been impressed with the level of service provided. Keep up the good work!
We've always got our ears to the ground when it comes to interesting, useful and topical information relating to business and accountancy.
We love making videos that break down convoluted accountancy jargon into plain-talking, actionable and accessible facts.
In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Mark Norden
Founder
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!
At Nordens, we're committed to keeping our clients updated on all things business strategy and news. Each week we update our newsletter subscribers on what really matters in the big bad world of business. That way, you can stay one step ahead!
Call: 0208 530 0720
Email: enquiries@nordens.co.uk
Interested In Nordens? Give us a call on 0208 530 0720 or or request a direct call back anytime between 8:00am to 6:00pm!
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Nordens is a trading name of Nordens Limited, a limited company registered in England under company number 04709951. Our registered office is: The Retreat, 406 Roding Lane South, Woodford Green, Essex, IG8 8EY.
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