How to determine when and how you have to register your business for VAT.
You have to register the business for VAT if your taxable turnover is greater than £85,000. You can also register voluntarily if your turnover has not reached this level.
Most businesses can register online with HMRC and by doing this you will create an online VAT account.
When you register HMRC will send you a VAT certificate which will show you the date from which you have been registered, your VAT number and the period of your first VAT return.
From the date of registration you must charge the right amount of VAT on your sales, reclaim the right amount of VAT on your purchases and pay the right amount of VAT to HMRC upon completion of your VAT returns.
VAT is a complex area of taxation and we would be happy to help you with registration or other issues related to VAT.
If you would like to have a chat about this, give us a call
I work with Val and beyond the Numbers, because they are exactly that..more than just the numbers. They work hard to understand my business, understand the business needs that are unique to me. They then shape the support and service around those needs.
What I particularly like is that they are up for doing all sorts of support, from basic book-keeping, through to strategic challenge and insight. Trusted partners.
Martin Ewart, Bigwheel Leadership Ltd
Get in touch today
Book an appointment and we’d be delighted to tell you more
about our experience helping other clients in your sector.
We’d love to help you, too.