Once your business turnover reaches a certain level, you will have to register for VAT. This means that whenever you buy or sell anything in the course of your business, you will have to charge VAT.
Value Added Tax, or VAT, is a tax that applies to most business transactions that involve the transfer of goods or services.
It is alegal requirement to keep proper VAT records on your incoming and outgoing transactions and pay VAT to HM Revenue & Customs (HMRC).You must register your business for VAT if you supplied taxable goods and services with a total value of more than £64,000 in the last 12-month period, or if you anticipate supplying taxable goods and services valued at more than £64,000 in the next 30-day period alone.
VAT is a constantly changing tax. In today's business environment, it is essential to take expert advice. With this in mind, we offer a full and comprehensive VAT consultancy and planning service which includes:
- Assistance with VAT Registration
- Advice on VAT planning and administration
- Use on the most appropriate VAT Scheme
- Preparation and submission of VAT Returns
