VAT registration is the way toward posting your business with the government as sales and active in production. After a business registers for VAT, it’s ready to recover any VAT paid on organization buys and gets liable for:
- Charging VAT on any merchandise or administrations sold
- Paying any VAT because of HMRC
- Submitting VAT Returns
- Keeping VAT records and a VAT account.
Register for VAT
Organizations enrolled for VAT will be given a one of a kind VAT enlistment number. This number ought to be remembered for deals solicitations and is required for the converse charge method for available deals between EU nations. In the UK, organizations with a turnover of more than £85,000 are needed to enlist for VAT. Your taxable turnover is the all-out estimation of all available deals you make all through the duty year. Deals that are excluded from VAT don’t check towards your taxable turnover.
The VAT threshold, otherwise called the VAT registration threshold, is the measure of cash you can win before you have to enrol for VAT. You should enlist for VAT if:
- You anticipate that your VAT available turnover should cross the VAT enlistment edge inside the following 30 days, or;
- You have earned more than the VAT edge over any year time frame.
- Remember that this year time span doesn’t need to line up with the expense year, so you ought to consistently check whether your VAT available turnover throughout the previous a year has crossed the current VAT enrollment edge.
In the UK, the VAT enrollment threshold is at present £85,000 (2020), and the latest UK VAT threshold are:
- 2014-2015: £81,000
- 2015-2016: £82,000
- 2016-2017: £83,000
- 2017-2020: £85,000
Looking for some guidance with VAT? Look no further and get in touch with us! Accotax is one of the finest accountancy firm in UK, from VAT registration, VAT registration threshold to HMRC VAT registration we shall assist you from the beginning till the end.
How it works?
Working with us is as easy as ABC. Please see the process below.
Simply choose the package that meet your business needs & Make the payment online by your debit or credit card.
Once you have paid, it will take your to document uploading page. Simply upload the documents or email information to us.
Our team of accountants will prepare the accounts & let you have accounts for your approval via email.
What makes us different?
There are several reasons why you should work with us. Some of them are listed below to make faster & wiser decision.
We believe in automation & use Xero, Quickbooks, Sage & many other online software.
You'll only pay for the services that you need and its all fixed so no more surprised bills.
We are Chartered
We are Regulated by ICAEW, ACCA & AAT so rest assure you'll be in the same hands.
On time filing
Your Accounts will be filed on time, every time. As long as you provide us information on time.
We have 100 years of combined experience. what else do you want for that price?
Free E-mail Reminders
Yes, we'll send you free reminders in the future so you don't miss any deadlines.
Because it's numbers game
See what we have done to date.