If your VAT taxable turnover is more than the £85,000 registration threshold over the last 12 months, you have to register for VAT. Furthermore, you have to register for VAT if you expect your VAT taxable turnover to go above the threshold in the next 30 days alone. You are also required to register for VAT if you take over a VAT registered business as a going concern. You can also voluntarily register for VAT with any level of turnover.
Once your business is VAT registered you are required to submit VAT returns to HMRC. Your VAT return is usually submitted on a quarterly basis with any VAT liability due to be paid at the end of each quarter.
We offer advice to any businesses that is planning to register for VAT and we will complete the whole registration process. We will explain what income and expenditure is included in your VAT returns and the supporting records that you must keep. We will also discuss the VAT schemes available to your business such as the cash accounting scheme and flat rate scheme.
Our VAT services include:
- VAT registration
- Preparation and submission of VAT returns
- Advice on the most suitable VAT scheme for your business
- VAT compliance checks
- Assistance with VAT investigations
- Import and export VAT
- All correspondence with HMRC on behalf of your business