We can help your business deal with VAT Return matters through our portfolio of services covering VAT registration, planning and returns. We take the fear out of sorting out your VAT and ensure that your obligations are met on time, and your returns are filed correctly.

What is VAT?

Value Added Tax (VAT) is the tax that you must pay when buying goods or services. If you are a business, you may be required to register for and collect VAT.

Businesses with a turnover of more than £85,000 (known as VAT registration threshold) must register to pay and add VAT on the products and services they buy and sell and pay this to HMRC when they file their quarterly return.

VAT in the UK is typically charged at:

  • 20% on goods and services
  • 5% is applied to some health, energy, heating, and protective products and services.
  • 0% is applied to a range of products and services to do with health, building, publishing, and kids’ clothing.

Some services and sales of goods are outside the scope of VAT (like stamps, financial and property transactions). Instead, businesses charge VAT based on what they sell and how much money they make.

Making Tax Digital for VAT

Since April 1st 2019, most VAT registered businesses earning over £85,000 have had to sign up for Making Tax Digital (MTD).

To carry out business under MTD you have to have compatible software. Gov.uk features a guide to approved software, and at VTAX , we can help you through system choices which fit in best with your business and the way you operate.

Making Tax digital by VTAX
Making Tax digital by VTAX
Making Tax digital by VTAX

Our VAT registration service

Your dedicated accounting manager will handle all your VAT issues. They will assess your company’s tax efficiency and advise you to switch if necessary.

It is not essential to register for VAT straight away until you hit revenues of £85k. If your company is growing and is likely to hit this figure soon, get ahead of the game and register now, giving you complete peace of mind to run and grow your company!

We can help you with the following VAT accounting services

  • Prepare VAT returns
  • Accurately account VAT returns in your book
  • Submit VAT returns to HMRC in a timely manner
  • Deal with HMRC on your behalf
  • Partial exemption
  • Pros and cons of a voluntary registration
  • Timing and delaying payments of VAT returns
  • The timing of compulsory registration
  • The VAT on imports and exports
  • Flat rate VAT schemes
  • VAT control visits by customs and excise

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