Value Added Tax or VAT as it is more commonly known is a form of tax which is applied to certain goods, services and other taxable supplies that are bought and sold within the UK.
There are many rules relating to VAT within the UK, so it is important to work with an experienced VAT accountant, such as ourselves to ensure that you keep proper records and submit your VAT returns on time to HMRC.
Whether you are a Limited Company or a Sole Trader it is a legal requirement to register for VAT if your taxable turnover exceeds £85,000 in a 12-month rolling period.
However, if your turnover is under £85,000 you can register voluntarily e.g., if you sell to other VAT-registered businesses and want to reclaim the VAT on your purchases.
VAT rules are complex and change regularly. We can help you get the VAT right and ensure the correct VAT is calculated.
The implications of miscalculating your tax can be very severe, often taking many years to resolve. Let us help you take the pain away.
Call us today to find out how we can help you with our dedicated MTD and VAT Returns service.
The government has introduced MTD to make it easier for people, and businesses to calculate their tax and to get it right first time. Their ultimate ambition is for the UK to have the most digitally advanced tax system in the world.
We are experts in VAT and can ensure that you only pay what is due. We help owner managed and small businesses throughout the areas of Farnborough, Hampshire, Surrey and Berkshire.
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