You must register your business for VAT if you expect your VAT taxable turnover to be more than £85,000 in the next 30-day period or if your business had a VAT taxable turnover of more than £85,000 over the last 12 months. Otherwise, you can register voluntarily if your turnover is less than £85,000, unless everything you sell is exempt.
After registration, you will receive a VAT certificate, which contains information such as VAT number, date of registration and when you must submit your first VAT return and payment. From the date of registration, you must charge the right amount of VAT, pay VAT due to HMRC, submit VAT returns (usually quarterly) and keep VAT records. The deadline for submitting the VAT returns is one calendar month and seven days after the end of the VAT period.
Most VAT registered businesses with a taxable turnover above £85,000 must follow the rules for Making Tax Digital for VAT. This means you’ll need to keep digital records and submit VAT Returns using compatible software.
In Sara-Int Ltd, we offer advice, VAT registration, preparation and filing of VAT declarations as well as de-registration from VAT. As dealing with VAT matters is a complicated process, you can count on our experience and commitment.
As registered agents, we are authorised to provide direct contact with HMRC on your behalf. We cooperate with clients in our office, by phone, post and by e-mail.