Tag: vat return

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…

VAT Return

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…