What is VAT?
Value-added tax, also known as a goods and services tax. It is assessed based on the value added to goods and services. If the ultimate consumer of goods is a business that collects and pays VAT to HMRC on its own goods or services, the business can reclaim the tax paid.
Tips on VAT
Precision VAT Management for Your Business Needs
Let us manage your VAT requirements with accuracy, shield you from penalties, and optimise costs. Rely on our experience to keep you updated on exemptions and beneficial schemes, allowing you to concentrate on your core business.
Who needs to pay VAT?
VAT (Value Added Tax) is a tax added to most products and services sold by VAT-registered businesses. Businesses have to register for VAT if their VAT taxable turnover is more than £90,000. They can also choose to register if their turnover is less than £90,000.
Why do I need an accountant for VAT?
While some businesses handle VAT returns internally, many choose an accountant for their expertise and accuracy, ensuring compliance and peace of mind. Let us handle your VAT, so you can focus on growing your business.
What is exempt from VAT?
Let FM Accounting keep you updated on VAT exemptions, relieving you from the burden of staying current. Focus on your strengths while we navigate the complexities of VAT regulations on your behalf.