VAT can be a confusing subject. Learn more about how to manage VAT efficiently in your business, from monitoring turnover and registration, to recording transactions, sending VAT invoices, and MTD reporting requirements.
Your unique VAT number is shown on the registration certificate which HMRC issue when your business becomes VAT registered. Once you receive your VAT registration certificate, you (or your agent) can create an online VAT account. What does my VAT reference number look like? If you have a UK VAT number it will be 9…
Current VAT rules require that a business to become VAT registered once it hits £90,000 a year in VAT taxable turnover. But, can a business register before that? The short answer to this question is yes. Businesses can register for VAT even if they haven’t yet reached the £90,000 registration threshold. Whether or not this…
As a UK business, you must register for paying VAT if your ‘VAT taxable turnover’ is more than £90,000. Therefore you need to get savvy where VAT is concerned. You need to know how to register, how to keep track of that important amount (the VAT taxable turnover), how you deal with VAT with customers,…
Changes to the VAT Flat Rate Scheme announced in November’s Autumn Statement will take affect from 1 April 2017, in order to tackle ‘aggressive abuse’ of the scheme….
