VAT Registration

It is vitally important that a business registers for VAT when it meets the registration criteria (generally turnover in the previous 12 months over £77,000). We can advise on when and how to register. There are severe penalties for failing to register.

There are also a number of different VAT schemes available to small businesses. We advise you about which scheme is best suited to your circumstances. We also advise on what records must be kept for VAT purposes and how to produce VAT invoices.

There are also circumstances where a business that does not have to register for VAT can benefit by registering for VAT. We can advise whether this is the case and, if so, an estimate of the benefit.

Some businesses register from the day they start trading. This isn’t always in their best interests. Look at this case study for more information.