VAT & MTD for Vat
It is the responsibility of the Taxpayer to ensure they are accounting for the right tax at the right time.
Value added tax (VAT) applies to most goods and services that are bought and sold for consumption.
All businesses must register for VAT if their turnover is over a certain threshold.
We can help you: -
Registering for VAT
Prepare, review and submit your VAT return (whether it be monthly or yearly - tailored to your business needs)
Making Tax Digital for VAT (MTD)
MTD has been implemented focusing on VAT registered businesses from 1st April 2019 with other encompassing other taxes. We can assist with queries relating to MTD, in addition to supporting your MTD registration.
MTD is relevant for: -
Sole traders, companies, LLPs, Partnerships and charities
VAT registered business whose turnover is above the threshold (currently £85,000) are part of the initial phase
Businesses with a lower turnover will have the option to opt in to file their VAT information following the MTD guidelines if they want.