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VAT registered business

Running a VAT registered business

Posted by admin on  November 15, 2016

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Category: VAT
Value Added Tax (commonly known as VAT in the industry), is regarded to be a sales tax. This particular tax is imposed on the expenditure of items like consumer goods, services and business transactions.  Technically, VAT is paid by the consumer when they make a purchase; whatever paid in the form of VAT is ultimately collected by HMRC (the abbreviation for Her Majesty’s Revenue and Customs). UK introduced this concept to its economy in 1973,
VAT Deregistration

An overview of VAT deregistration

Posted by admin on  November 15, 2016

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Category: VAT
According to the rules and regulations implemented by HMRC, whenever a business exceeds an annual threshold of £83,000, it needs to be registered for VAT. In fact, it is a prerequisite for such businesses to register with HMRC and submit VAT return files on timely manner. However, when the taxable supplies are below the limit of £81,000, you can apply for a VAT deregistration (only if you intend). However, it is strictly advisable that you
Register for VAT

Register for VAT and gain credibility for your business

Posted by admin on  November 15, 2016

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Category: VAT
Although business taxation is a confusing aspect to handle, it is important for a business to register for VAT if it intends to gain credibility. Especially, from a small business’s perspective, such credibility is exceptionally important for its expansion. While it is a prerequisite for any business in UK to register for VAT, very few business owners are completely aware of the rules and regulations inside this process. Many of these business owners wonder when
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