Relieving you of the burden
Value added tax (VAT) is an indirect tax on goods and services that qualify. For the tax year 2014/15 it is compulsory for companies and sole traders with a VAT taxable turnover greater than £81,000 to register for VAT. Below this threshold, registration is voluntary*.
With the numerous VAT schemes that HMRC operates, it can be confusing and difficult to tell which scheme will work best for you and your business. Furthermore, deducing what you can charge VAT on and what can be claimed back can be complex and time consuming. Not only will we complete your VAT calculations and submissions to meet HMRC deadlines we can also provide guidance on the right scheme for your business.
*Note that although VAT may be voluntary for your business, it may be beneficial to register for VAT, as you may have a net income from your VAT inputs and outputs. Contact us for a one-off assessment to see if you can benefit from voluntary VAT registration.
Contact us today for a VAT health check and to see how we can relieve you of the burden.