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London & the South East Accountants

Value Added Tax (VAT)

VAT advice and returns

VAT can be a complex area and there are several VAT Schemes to choose from. We can assist with both the routine preparation of VAT returns and VAT planning in those complex areas where careful planning is essential.

VAT investigations are also rising, so it's important that your accountants have experience and more importantly success in dealing with VAT investigations.

VAT is a tax chargeable on taxable supplies made in the UK by taxable persons. Credit is given for VAT paid on your expenses and the net balance is payable or reclaimable - normally on a quarterly basis.

Should I be registered for VAT?

You should notify HM Revenue & Customs when:

It is important to monitor turnover because there is a penalty for late registration. This is in addition to the tax payable.


Can I register for VAT if my taxable turnover does not exceed the prescribed limits?

It is possible to register voluntarily provided you have a bona fide business.

Taxable persons

A taxable person is any person carrying on a business which is, or is required to be registered for VAT and includes the following:

G & J Financial Service Ltd Chartered Certified Accountants vat