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If you have got questions, we have the answers. Just send us a message and one of our accountants will be in contact with you within 48hrs – even on weekends and holidays.

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    Stop By Anytime

    We are open: Monday to Friday from 9am to 7pm and Saturday from 10am to 5pm

    18 - 20 East Street
    Bromley, BR1 1QU

    At Adiva Accountants all initial consultations are free of charge, so contact us today.
    For quality, competitive, and friendly accountancy services, please contact

    Adiva Accountants

    on 020 8313 9117 or via email at contact@adivaaccountants.co.uk.

    At Adiva Accountants we have the knowledge and the experience to provide you with the kind of accounting and tax services that you are looking for. At Adiva Accountants we look forward to discuss with you, without obligation, ways in which we may be able to help your personal or business needs.

    Alternatively, you can complete the contact form here and we will respond as soon as possible.

    Directors of Adiva Accountants have over 10 years’ experience of providing accountancy services. They have completed Bachelor and Masters degrees in Accountancy, Taxation and Business Management. Additionally, they have completed various accountancy qualifications such as ACCA, AAT, etc. So, they hold various accountancy degrees and qualifications up to chartered certified accountant.

    They can advise you on many other things, such as how to get the best price when you come to sell your business. Or on how to satisfy the banks conditions when you need help with finance. Or on how to keep creditors, insurers and suppliers happy, etc. Their expertise covers income tax, capital gains tax, corporation tax, VAT, payroll and many more.

    They can help with dealing with Inland Revenue investigations also.


    Parking

    There are parking bays right in front of the office, please be careful not to park in loading bays. Parking costs £1.90 per hour (maximum stay 2 hours). Alternatively, you can park in Sainsbury’s car park, which is just 1 minute walk away from the office. Parking there is completely free for 30 minutes and would be free for up to 2 hours provided you spend £10 in Sainsbury’s. Our office is at 18-20 East Street, Bromley BR1 1QU, which is opposite of O’Neill’s pub and TruGym.

    Alternatively, there is a big car park (1,500 spaces) in the INTU Bromley Shopping Centre (formerly The Glades). Parking costs £1.10 per hour for every day of the week. The shopping centre car park address is: The Glades, High Street, Bromley, BR1 3EF.


    By car

    If you drive to our office in Bromley, please enter this address in your Satnav 18-20 East Street, Bromley, BR1 1QU. From Orpington, you can take A232, then A21. From Beckenham, you can take A222. From Eltham, you can take A208B226A2212, then A21. From Lewisham and Catford, you can take A21. From Croydon, you can take A232A233, then A21. From Kent, you can take A21. From North and East London, you can take the Blackwell tunnel southbound, A2A2213A20South Circular RoadA2212, then A21. From West London, you can take South Circular Road to Catford, then A21.


    Public transport

    We are situated in Bromley East Street, which is served by Bromley South and Bromley North train stations, they are about 5-10 minute’s walk away oesterreichischeapotheke.com/. There are direct trains from London Victoria, London Bridge and London Blackfriars to Bromley South station. Bromley South is connected by direct trains to major towns around London and in Kent such as St Albans, Orpington, Sevenoaks, Ashford, Gillingham, and Ramsgate.

    The main bus routes serving Bromley High street are 61, 119, 138, 146, 208, 227, 246, 261, 269, 320, 336, 352, 354, 358, and 367.

    Chartered Certified Accountants       Call us: 020 8313 9117 contact@adivaaccountants.co.uk
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    When you need to register for VAT?

    If the value of your taxable supplies exceeds a set annual figure (£83,000 from 1 April 2016), you are required to register for VAT.

    Even if you are making taxable supplies below the registration limit, it is possible to apply for voluntary registration. This is beneficial if your business was principally making zero rated supplies. As this would allow you to reclaim input VAT, which could result in a repayment of VAT.

    Even if you have not yet started to make taxable supplies but intend to do so, you can apply for registration. In this way input tax on start-up expenses can be recovered and a refund will be due.

    Taxable person

    A taxable person is anyone who makes or intends to make taxable supplies and is required to be registered. For the purpose of VAT registration, a person includes:

    • individuals
    • partnerships
    • companies, clubs and associations
    • charities

    In cases that an individual carry on two or more businesses all the supplies made in those businesses will be added together in determining whether or not the individual is required to register for VAT.

    Administration

    Once you become VAT registered you must submit online a quarterly return to HMRC. This VAT return shows amounts of output tax, deductible input tax together with sales and purchases figures. The VAT returns must be submitted within one month and 1 week of the end of the period it covers.

    Electronic payment of VAT liability is also compulsory for all businesses.

    It is beneficial for businesses who make zero rated supplies and who receive repayments of VAT to submit monthly returns.

    Record keeping

    It is important that up to date records are kept by a VAT registered business. These records include details of all supplies, purchases and expenses. Additionally, a VAT account should be maintained. This is a summary of output tax payable and input tax recoverable by the business. The above records should be kept for six years.

    Records inspection

    The maintenance of the records and calculation of the VAT liability is the responsibility of the registered person. However, HMRC will need to be able to check that the correct amount of VAT is being paid over. So, from time to time a VAT officer may come and inspect the business records. During the control visit the VAT officer will check to ensure that VAT is applied correctly. And that the VAT returns and other VAT records are properly written up.

    However, even in the absence of any errors being discovered, you should not assume that your business has been given a clean bill of health.

    Offences and penalties

    HMRC have wide powers to penalise businesses who ignore or do not apply the VAT regulations properly. Penalties can be applied in respect of the following:

    • late returns/payments
    • late registration
    • errors in returns

    If you are starting or have started a business in Lewisham, Bromley, Kent and London areas we, at Adiva Accountants in Lewisham, can help you comply with the VAT regulations. Please do not hesitate to contact us at Adiva Accountants in Lewisham.

    Categories: Business taxation, VAT returns in Eltham
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