VAT

Value added tax (VAT) is the tax you pay when you buy goods or services. For businesses, VAT is one of the most complicated aspects of the UK tax regime and can feel like a significant burden. The rules around the tax also change regularly, and, as ever with HMRC, if you make a mistake on your quarterly VAT return, you face significant financial consequences.

As accountants for VAT, you can rest assured that your tax obligations are being taken care of to the highest standard. As VAT specialists, we will keep your business compliant with its obligations, no matter how obscure they are.

Businesses with a turnover of more than £85,000 must register for VAT, and then pay and charge the tax on the products and services they buy and sell. Other businesses can choose to register for VAT voluntarily, however. Businesses charge their customers VAT, and then pay that back to HMRC when they file their quarterly VAT return.

VAT in the UK is typically charged at:

  • 20% on goods and services
  • 5% on some health, energy, heating, and protective products and services
  • 0% on some products to do with health, building, publishing and children’s clothing.

Talk to us about your VAT return.

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