All businesses turning over more than the VAT threshold each year are required to register for VAT.
Our specially trained VAT team will assist you with your questions, including:
- VAT Registration
- Cash accounting
- Supply to Overseas countries
- Zero-rated and exempt supplies
- Sales invoicing
- Exemptions
Responsibilities
VAT-registered businesses:
- must charge VAT on their goods or services
- may reclaim any VAT they’ve paid on business-related goods or services
If you’re a VAT-registered business you must report to HM Revenue and Customs (HMRC) the amount of VAT you’ve charged and the amount of VAT you’ve paid. This is done through your VAT Return which is usually due every 3 months. It is vital to file accounts on time and VAT returns to HMRC including reporting on European sales and purchases. Heavy penalties apply for failing to comply. represent you at VAT tribunals.
VAT Planning
As Value Added Tax is one of the most complex of taxes, it requires careful planning to ensure that your business does not overpay/underpay. Working closely with you, we will take you through the Government/HMRC legislation in this area as it a constantly changing environment.
