Value Added Tax (VAT)

Currently, VAT registration is mandatory for businesses that have a taxable turnover exceeding £85,000 within a 12-month rolling period. This requirement applies to both Limited Companies and Sole Traders. As a VAT-registered business, you will need to regularly complete and submit VAT returns to HMRC, ensuring timely payment of VAT dues. Filing VAT returns can be complex and time-consuming, with potential penalties for mistakes or delays. It is advisable to consult a qualified accountant to minimize risks. At Tika Accountancy, we provide comprehensive assistance, including:

• supporting with VAT registration.

• maintaining VAT control and reconciliation

• ensuring accurate and timely VAT preparation and completion
  
  

Our experienced team can help you optimise VAT benefits, avoid penalties, and explore any available schemes tailored to your specific circumstances.