Should your business register for VAT before you need to?
Is it time for your business to register for VAT? In the UK, if your VAT taxable turnover exceeds the current threshold of £85,000, you are legally required to pay VAT. However, there are a number of small businesses with a turnover of less than the VAT registration threshold that opt on a voluntary basis…
Our guide to completing a VAT return
As soon as you reach the VAT threshold, which is currently £85,000, you will be expected to pay VAT on all taxable sales. However, you may also be entitled to claim back VAT that has been charged on business purchases. As part of this process, you will also need to submit a VAT return to…
When should your business register for VAT?
No matter what industry you operate your business in, by law, you must register for VAT if your VAT taxable turnover goes over £85,000, or that you know that you will go over the tax threshold by the end of the year. And, when it comes to working out your VAT taxable turnover, you must…
Our guide to VAT
Our guide to VAT Here’s our VAT guide to everything you need to know about VAT for your business. What is VAT? VAT stands for Value Added Tax. This tax is applied to the sale of goods or services by companies who are registered in the UK. When a sale is made, the company adds…
