Value Added Tax (VAT):
When we hear about VAT an additional tax comes straight into our mind but in reality you may be better-of being registered than non registered business.
All businesses making VAT taxable turnover over a certain turnover threshold (2017:£85,000) are to be register by law.
Other business which do not meet the threshold criteria can still register on voluntary basis.
There are several schemes and options to opt i.e.:
- Cash basis or accruals basis
- Flat rate or standard rate
- Quarterly or annual
In order to get advise to select the best scheme for your business you can give us a call on 020 7278 0007 or book a FREE No Obligatory Initial Consultation with one of our qualified accountants.