VAT Accountants
services in the UK
The professional and skilled staff are responsible for preparing & filing your VAT reporting and returns throughout the year.
Tailored accounting software, experienced tax specialists and a personal client manager might be what you’ve been looking for as well as remaining within the framework of Making Tax Digital rules.
#

What is VAT?

VAT is defined as the tax that you have to pay each time you purchase goods or services. You may have to register for and charge VAT if you are a business.

Companies with an annual turnover of more than £85,000 (often referred to as the VAT threshold) must register to charge and pay VAT on the goods and services they purchase and sell, and submit it at the end of every quarter to the HMRC.

10% on goods and services

5% is added to some of the health, energy, heating, and protective products and services.

It is used for a variety of products and services related to health, building, publishing, and children’s wear. Certain services as well as supplies of goods are out of the scope of VAT (for example, stamps, financial and property transactions). Instead, businesses set the VAT based on what they offer and the amount of money they earn.

Your VAT registration number

Your business is assigned a unique nine-digit number that begins with ‘GB’ by the government.

Company numbers are assigned to VAT-registered businesses and can be found on the registration certificate that also indicates when the company crossed the registration threshold and when the first VAT return is due.

#

Is your business ready for making tax digital for VAT?

Making Tax Digital (MTD) is transforming how businesses in the United Kingdom conduct their taxes. Companies that are registered for VAT have been required to maintain records and submit their VAT returns online.

We only employ accounting software Xero, QuickBooks, and FreeAgent; we are accredited and compliant with the MTD.

Let us assist you in filing your VAT returns electronically and avail our VAT support and services as often as you wish.

Our friendly and dedicated team are here to answer any tax or accounting questions you may have.
Call our team of advisors!
#

Frequently Asked Questions

VAT or Value Added Tax is a type of tax levied on majority of the products and services which are being offered by VAT registered business entities operating in the United Kingdom.
If you transform goods and services, you have to register for VAT if total VAT-taxable supplies in a 12-month period exceed £85,000; or if you except that they will exceed this amount in the following 30 days.
To register for VAT, you will typically need:To register for VAT, you will typically need: - Your business contact information Including your business name, address, etc. - Other specifics based on the given business turnover. - The details of engagements that are involved by your enterprise.
After filing an application for Vat registration it takes about 10 to 14 working days for an enterprise to be registered.
After registration, you are issued with a VAT registration number in a certificate of VAT registration. This means that you must begin correcting your prices and issue proper VAT accounts and receipts for your products and services.
Yes, of course, TVR Accountants can help you with your VAT returns and complete them before submitting to HMRC therefore meeting all the necessary requirements.
Failing to register for VAT when you should, means that you will have to pay VAT on your sales from the date you ought to have registered, charges in addition to penalties and interest.
Yes, It is possible to request for registration to be backdated for up to 4 years, but you will have to calculate and remit VAT on all sales in the period being in arrears.