Value Added Tax, is a tax that applies to most business
transactions that involve the transfer of goods or services. It
is a constantly changing tax. Once your business turnover
reaches a certain level, you will have to register for VAT. This
means that whenever you buy or sell anything in the course of
your business, you will have to charge VAT on your sales, keep
proper VAT records on your incoming and outgoing transactions
and pay VAT to HM Revenue & Customs .
VAT is a subject that strike fear into many business owners. The
truth is that the under the European Union the situation has
become more complex not less! The reporting requirements have
actually increased especially if you Import or Export products.
You must register your business for VAT if you supplied taxable
goods and services with a total value of more than £64,000 in
the last 12-month period, or if you anticipate supplying taxable
goods and services valued at more than £64,000 in the next
30-day period alone.
Certain types of goods and services are not taxable and are
therefore exempt from VAT, eg insurance, loans, or some types of
education or training. If your business supplies only goods and
services that are exempt, then you can't register and claim the
VAT back on your purchases.
It is essential to take expert advice. Looking after our
clients' VAT affairs is fundamental to the overall service we
The services include:
VAT Health Check
VAT tribunal work
Standard UK VAT registrations
Specialised UK VAT registrations for non-UK businesses
VAT refunds for overseas businesses in the UK
VAT refunds for UK businesses overseas