Do you need to register for VAT?
You must register for VAT if:
- You expect your VAT taxable turnover to be more than £85,000 in the next 30-day period
- Your business had a VAT taxable turnover of more than £85,000 over the last 12 months
You can also register voluntarily if your business turnover is below £85,000.
You must pay HMRC any VAT you owe from the date they register you.
What do I need to do once I've registered?
You will need to:
- Register on the most appropriate VAT scheme
- Charge VAT to your customers
- Submit quarterly VAT returns to HMRC
- Pay HMRC the VAT you have received from your customers
Making tax digital for VAT (MTD)
VAT registered businesses and organisations with a taxable turnover over the VAT threshold (£85,000) are required to maintain their accounting records and file their VAT returns using MTD compliant software, from the first VAT period starting on or after 1 April 2019.
How can we help?
We'll help you through the whole process including:
Prepare your VAT returns and submit them on your behalf
Calculate the amount due and advise you accordingly
Ensure that you are reclaiming VAT on all allowable purchases
Ensure you are charging VAT correctly to your customers
Advise the most appropriate VAT scheme for you to register for, eg cash accounting, flat rate scheme.
Access to a variety of making tax digital (MTD) compliant accounts software