How do I set up an online accountancy service for my sole trader business?

Setting up online accounting for your sole trader business with Accountsway takes just a few steps: choose a pricing plan, share your financial documents securely, and our team handles your bookkeeping, Self Assessment tax return, and HMRC submissions on your behalf. You also get access to Xero accounting software included in your plan.

What do outsourced accounting services actually include?

Accountsway's outsourced accounting services include bookkeeping, VAT return preparation and submission, monthly or quarterly management accounts, payroll processing, Self Assessment or Corporation Tax returns, and Companies House filings. Higher-tier plans also include virtual CFO support and financial modelling.

I am a freelancer. Do I really need professional accounting services?

Freelancers in the UK are required to register for Self Assessment and file a tax return with HMRC each year. While not legally required to hire an accountant, doing so helps you claim all allowable business expenses, reduce your tax bill, avoid penalties for late or incorrect submissions, and save significant time during tax season.

Which accounting software do you use?

Accountsway uses Xero accounting software, which automates invoicing, bank reconciliation, and financial reporting. Xero access is included in our plans, and we offer the first month of accounting services free so you can experience the platform before committing.

How do I know if my business needs accounting services?

Your business likely needs professional accounting services if you are missing HMRC tax deadlines, unsure how to reclaim VAT, spending more than a few hours per week on bookkeeping, or growing to a point where financial planning becomes complex. UK businesses with a turnover over £90,000 are also legally required to register for VAT.

Are accounting services worth it for a small business?

Yes. For most UK small businesses, the cost of professional accounting services is outweighed by tax savings through proper expense claims, penalties avoided for late HMRC submissions, and hours saved each month on bookkeeping. Accountsway's plans start from £25.50 + VAT per month, making it affordable for sole traders and small limited companies.

How much does a small business accountant cost in the UK?

The cost of a small business accountant in the UK varies widely. Traditional high-street accountants charge £500–£2,000+ per year for basic services. Accountsway offers fixed-fee online accounting from £25.50 + VAT per month for sole traders, with no hidden charges and the first month free.

Do I need an accountant as a limited company in the UK?

Limited companies in the UK must file annual accounts with Companies House and a Corporation Tax return with HMRC each year. While not legally required to use an accountant, these obligations are complex and errors can result in fines. Most limited company directors use a professional accountant to ensure compliance.

Which accounting firms provide NHS VAT return services?

As a doctor, your income may come from a mix of NHS employment, locum shifts, private patients, and consultancy work. Keeping track of everything can quickly become difficult, especially when it comes to tax and accounting. Accountsway has made it easy for doctors by offering cheap VAT advisory services. As we are fully aware with IR35 rules for locums.

How to choose an accountant for VAT returns in the UK

When choosing an accountant for VAT returns, ensure they are ACCA or ACMA qualified and fully knowledgeable about HMRC’s Making Tax Digital (MTD) requirements. This guarantees accurate, compliant, and timely VAT submissions. At Accountsway, our tax advisors are fully trained in MTD and provide reliable VAT compliance services.

How to choose an accountant for VAT returns in the UK

When choosing an accountant for VAT returns, ensure they are ACCA or ACMA qualified and fully knowledgeable about HMRC’s Making Tax Digital (MTD) requirements. This guarantees accurate, compliant, and timely VAT submissions. At Accountsway, our tax advisors are fully trained in MTD and provide reliable VAT compliance services.

Do I need an accountant for my VAT returns?

It is not a legal requirement to hire an accountant for tax returns in the UK. However, tax rules can become complex, and mistakes can be costly. For example, doctors often deal with multiple income sources and VAT complexities, In such cases, working with a qualified accountant can help ensure accuracy, compliance, and better financial management.

How to book a consultation with a Uk property tax accountant online?

To book a consultation with a UK property tax accountant, simply complete the “Get Started” form on our website. Once submitted, you will receive a confirmation email along with a WhatsApp message to schedule your Zoom session with our accountant.

Can VAT returns be filed online only?

Yes, most UK VAT returns must be submitted electronically using HMRC-approved software. we are using Xero as software to submit VAT returns.

How long does it take to file a VAT return in the UK?

Under HMRC regulations, VAT returns are generally due by the 7th day following the end of each VAT quarter. At Accountsway, we prepare and submit your VAT return within 48–72 hours, ensuring your filing is completed accurately and on time.

What does a VAT accountants do?

A VAT accountant in London helps you manage your input and output VAT, complete your VAT registration, prepare accurate VAT records, and submit your VAT returns on your behalf while ensuring full compliance with HMRC regulations.

What are the penalties for late VAT returns or payments?

Yes, HMRC charges interest on late VAT payments and may also impose penalties for late VAT return submissions. Working with an experienced VAT accountant can help you file your returns on time, reduce the risk of errors, and avoid unnecessary interest and penalties.

Do you help with Making Tax Digital (MTD) for VAT?

We are using MTD complaint software such as Xero to submit your VAT return online.

Accounting

What happens if I miss my VAT return Deadlines?

Posted by

Accountsway

July 2, 2026

On July 2, 2026

VAT value added tax, which is a tax that is added to the value of particular goods and services as per the regulations of the HMRC. It is imposed on the particular goods and services and collected from the end user, and ultimately it is submitted to the authority by filing the return. Filing the VAT return in the UK is an important formality that has to be performed at any cost while running a business in the UK.

HMRC has defined clear criteria that explain that retailers and firms that have a turnover exceeding £ 90,000 will have to file the VAT return in the UK every quarter. Non-filing of the VAT return initially causes fines and subsequent penalties if the business is unable to file the VAT return in the UK.

It is a part of the mandatory compliance that has to be performed by the business at any cost; otherwise, there is a decent chance that their business operations can be suspended. In this blog, we explain the ultimate consequences of missing the quarterly VAT return when running a business in the UK. Missing the VAT return in the UK is based on the criteria and scenario that you missed a quarterly VAT return in the UK. The following are the probable consequences of missing a VAT return while doing business in the UK.

Penalties For Late Filing VAT Returns in the UK

Filing the VAT return in the UK is one of the essential things, and as a business, if you are late in filing the return, the following are the consequences.

HMRC introduces a point-based system if the business misses the return. Timely submission will cause an addition to the points, and late submission will have a negative effect on the points. Further, a fine of 200£ is imposed on them if the business is unable to file the VAT return in the UK. Accountsway is a professional platform that offers VAT return filing services in the UK. They are assisting businesses in the UK that are facing difficulties during the VAT return filing process. Their exclusive services and taxation experts are more than enough to support the business in following their taxation & VAT return matters.

Late Filing VAT Return in the Bracket of 15 Days

IF you are unable to file the VAT return within 15 days after the due date defined by HMRC, 4 % of the tax liability is going to be imposed on the business as per the regulations defined by HMRC. It is the minimum penalty that is to be borne by the business when they miss the quarterly VAT return to the UK. Accountsway will assist businesses if they are late and want to file their VAT return to the UK. That’s why they are offering dedicated return filing services to small businesses in the UK.

Late Filing VAT Return in the Bracket of 16-30 Days

If the period exceeds the late filing from 15 days to 30 days, the authority will impose an extra penalty. An extra 3% of the VAT payable will be further added to the penalty amount already imposed on the business. After 15 days, the penalty is imposed twice: the first 15 days’ penalty and then the penalty of an extra 3 per cent after 15 days of non-filing of the return in the UK. It is recommended by experts that if the business is currently facing difficulties, it can have the assistance of a third-party service provider to have VAT filing services in the UK.

Late Filing VAT Return After 31 days of the due date.

If the business VAT return is still outstanding after 31 days, and the business VAT accountant is unable to file the return. Then an additional penalty of 3% is imposed on the current dues of the business, including the amount of penalty that is already imposed on the business. In addition, an amount of 10 per cent is charged at an annual rate of the dues that are to be submitted to the HMRC by the business.

How You Can Minimise Your Penalties Imposed by the HMRC

To minimise your penalty, the best thing that you can do is to pay whatever amount you have you will pay to the HMRC. This will minimise your taxation penalties and help to evade the fine by appealing to the authority. You can also contact the HMRC to provide a flexible instalment plan for the HMRC in the UK.

Accountsway, with their professional VAT accountants, provides the most effective VAT filing services in the UK. They are one of the renowned names when it comes to taxation and accounting services for small businesses in the UK. Their exclusive services are right for the taxation and other needs of businesses, which is why they are recommended when it comes to online tax filing in the UK.

Blog

Penalties For Late Filing VAT Returns in the UK

Late Filing VAT Return in the Bracket of 15 Days

Late Filing VAT Return in the Bracket of 16-30 Days

Late Filing VAT Return After 31 days of the due date.

How You Can Minimise Your Penalties Imposed by the HMRC

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