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VAT Registration

A value-added tax (VAT) is a type of consumption tax that is placed on a product whenever value is added at a stage of production and at the point of retail sale.  The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed. VAT registration is the process of listing your business with the government as active in production and sales. Once you are VAT registered, you will become eligible for the return of VAT.

  • Charging VAT when you sell goods or services (and charging the right amount!)
  • Paying any VAT due to HMRC
  • Submitting quarterly VAT Returns
  • Keeping VAT records and a VAT account.
  • VAT registration can be of two types; compulsory and voluntarily registration
  • Compulsory registration is where the business becomes legally responsible for registering for VAT.
  • A business may decide to voluntarily VAT Registration even when taxable supplies are below than registration limit i.e. £82,000. This is called voluntary registration.
  • If you have a ‘taxable turnover’ of more than £85,000, you need to register for VAT through HMRC.
  • Most businesses do register online.
  • Many small businesses and start-ups have a turnover under the £85,000 threshold but still choose to register for VAT.
  • There are pros and cons of voluntary VAT registration, and the decision to opt-in voluntarily very much comes down to your particular business, as well as your own personal preferences.
  • You can reclaim some of the VAT on the goods and services purchased by your business
  • As your business grows, you may reach a turnover of £85,000. If you pre-emptively register for VAT before reaching this threshold, you could save the time and hassle of adjusting your prices to include VAT rate.
  • You can also reclaim the VAT you’ve paid on certain purchases made before you registered.
  • Most businesses can register online – including partnerships and a group of companies registering under one VAT number.
  • You should get VAT registration certificate within 30 working days.
  • VAT registration certificate can be send to your VAT online account or through post if you have registered through an agent or you are unable to register online.
  • You VAT registration certificate state your VAT registration number, the date on which you have to submit your VAT return and payment and your effective date of registration.
  • You can transfer a VAT registration from one business to another.
  • You can appoint us as an agent for submitting VAT returns and deal with HMRC on your behalf