VAT-asummary

VAT is charged on most goods and services sold in the UK, collected by registered businesses on HMRC's behalf. Once a business's taxable turnover passes the registration threshold it must register, charge VAT on its sales, and can generally reclaim VAT it has paid on business purchases, accounting for the difference to HMRC.

Registration brings ongoing obligations — charging the right rate, keeping proper records, and filing returns on schedule — and there are several accounting schemes that can simplify this depending on the size and nature of the business. We help clients register at the right time and choose a scheme that fits how they actually operate.