Value Added Tax (VAT) is a very complex subject. As with taxation issues, all abacus accountants have access to a special VAT helpline ensuring you as our client, will receive the right advice in a timely and appropriate manner.
abacus accountants understands that to many of our clients VAT is a daunting task. Below are some frequently asked questions in regards to VAT:
> When do I have to register for VAT?
> You must register for VAT when your sales exceed the statutory registration limit. This
varies year on year but can be checked on the HM Revenue and Customs website.
> Can I register voluntarily for VAT even if my sales are below the registration limit?
> Yes you can, however it is only advantageous to do so if:
> The nature of your trade means that your costs or purchases include VAT, and
> Most of your customers are VAT registered and can claim back the VAT that you will
need to add to your sales.
> Or your supplies are mainly zero rated for VAT purposes.
> What forms are required?
> All applicants must complete a VAT 1 form. If the business is a partnership then a VAT 2
form is also required. If the business is part of a group then form VAT 50 must be
> What are the different VAT schemes and which is best for my business?
> There are a number of schemes available
> Cash Accounting
> Flat rate scheme
> Annual accounting
> Special Schemes for retails
A number of factors will determine which scheme is most appropriate for your business and any abacus accountant will be able to advice you which scheme to use after assessing your business circumstances.
> Call us now, regarding your VAT, on 020 7183 7997 or fill out our contact form.
Value Added Tax (VAT)
Why Use abacus?:
> Fixed Fee pricing
> Out of hours services
> All deadlines guaranteed
> UK accountancy network
> Local to you
> Personalised Service
Our Unique Services:
> One-Stop-Shop for all of your
Accountancy, Business &
> All Inclusive Packages:
Payroll, Final Accounts,
Business & Personal Tax,
Auditing and many more.
> Fully automated account
giving you quick access to
your accounts information
LEAVING YOU FREE TO RUN
abacus accountants is the trading name of abacus Central London Limited, Company Registration No. 06499069.
abacus Central London Limited is Registered as Auditors and regulated for a range of investment business activities by
FREE INITIAL CONSULTATION
● CHARTERED CERTIFIED ACCOUNTANTS ● REGISTERED AUDITORS ● TAX CONSULTANTS ● BUSINESS ADVISORS ●