All businesses have to register for VAT if the value of your taxable supplies within the previous 12 months exceeds the current registration limit of £79,000, or you expect it to within the next 30 days.
However, if you do not expect your turnover to be this high, you can still register voluntarily. For advice as to the pros and cons of registering, please contact us.
If you are registered for VAT you will need to prepare and submit a VAT return on a monthly or quarterly basis.
We can prepare your VAT Return for you as part of our bookkeeping service ensuring that all returns and payments are made on time to avoid paying unnecessary penalties.
This service includes:
* Preparation of VAT return in accordance with the Accounting scheme used.
* Calculation of liability/repayment due
* Registration and deregistration for VAT
* Providing advice as to the VAT schemes available and the pros & cons for your business.
* General VAT advice
We can also represent you in the event of a VAT compliance visit, attending the initial meeting or liasing with HM Revenue & Customs to resolve queries.
Guide to Increased VAT Rate to 20%
Guide to VAT Rates
Guide to VAT Registration
Guide to Claiming Purchase VAT Before Registration