Director VAT UK, Value Added Tax in UK

Tony Dhanjal

VAT UK

This Article Contains

VAT UK Overview

 

If you’re a small business owner, limited company director or freelancer, UK VAT is likely to play a significant part in your business. Some directors or business owners don’t give enough thought to VAT and often follow a ‘binary’ decision making path of not registering their business if the VATable turnover is below the current VAT threshold, and registering for VAT as soon as they realise it has exceeded the threshold. A singular mindset of VAT is BAD for business could be costly. A business owner should obtain some basic knowledge and carry out or get a VAT evaluation, in order to make an informed decision. Now it may transpire that not registering for VAT UK (unless of course you are obliged to) is the right decision, the right informed decision.

In our latest VAT video  for the Accounting & Tax Academy on YouTube we’ve broken down the ins & outs of VAT UK as well as going into salient points you need to consider when making the decision to register for VAT in UK if you are doing so before legally required. 

Ready to know your numbers?

Get access to exclusive courses, resources & videos on our FREE membership site.

In addition to our video resources explaining the basics of VAT we’ve prepared 2 downloadable resources you can access by completing the form to your right. 

•A full table illustrating the various VAT exempt, reduced rate and zero rated supplies.

•  An in-depth look at the VAT Flat Rate Scheme including the varying rates for different types of businesses.

Free VAT Downloads

Should I register for VAT?

 

Often, there can be many benefits to registering for VAT UK before you reach the current threshold. Once you have registered for VAT you will be able to claim what is known as input VAT on products and services you have incurred wholly & exclusively for your business activities. However, this does mean your business (whether a sole trader or company) will have to start charging your customers VAT, known as output VAT. However, not all products and services are chargeable at the current standard rate of 20%. 

A VAT evaluation, is a service we offer that will enable you to make a more informed decision about whether or not your company could benefit from registering for VAT before hitting the VAT UK threshold. You can learn more about this service from the video below.

What is a VAT Evaluation?

 

VAT Evaluation Service

from £ 99
99
  • In depth evaluation from a VAT expert.
  • A full analysis based on your specific circumstances.
  • Detailed information so you can make an informed decision about VAT registration.

As a Qualified Accountant, I have been supporting and serving SME's, freelancer and entrepreneurs over 25 years. I am passionate about helping and empowering you to KNOW YOUR NUMBERS so you can manage and grow your business or personal finances to success.

Here’s what our clients say

Browse by category:

Categories

You might also like…

Blog

The Holding Company – A Brilliant Addition With More Than 1 Benefit

When a company is in it’s infancy it often takes the most simple form possible. In the UK that would be in the form of …

Read More
eGuides

Loan Agreement Download

Ready to know your numbers? Get access to exclusive courses, resources & videos on our FREE membership site. Learn more The Director Loan Agreement (unsecured) …

Read More
The Super Deduction
eGuides

The Super Deduction

The Super Deduction If you are interested in lowering your corporation tax bill by up to 25%, then the new Super Deduction (introduced in the …

Read More
photo png

I hope this blog post empowers you...

...do you want higher quality accounting and tax content? Stuff that can really help you save £000's in tax, legally? Head over to our Academy where you can get access to all this ...

Grow & Give Back

We believe in growth and giving back to our community. A percentage of every penny we make goes straight to our charitable partner Nishkam SWAT, serving the homeless in London

Aidhan & Partners is a trading style of a joint venture between Aidhan (Financial Services Ltd), a limited company registered in England under company number 04953002 and Simply Accountants Ltd, a limited company registered in England under company number 08535253.  Our registered office is: Aidhan, 199 Bishopsgate, London EC2M 3TY
Disclaimer – all our content is for general guidance only and does not constitute formal advice. We always recommend you take professional advice.

© Aidhan Financial

2021