Value Added Tax (VAT)

UK-established businesses generally need to register for VAT if their taxable turnover exceeds £90,000 over a rolling 12-month period, or is expected to exceed £90,000 in the next 30 days alone. This can apply to sole traders, partnerships and limited companies. Businesses below the threshold may also register voluntarily. Different registration rules can apply to overseas businesses with no UK establishment.

Once registered, businesses must keep appropriate VAT records, submit VAT returns and pay any VAT due by the relevant deadlines. Returns are usually submitted quarterly, including when there is no VAT to pay or reclaim.

At Tika Accountancy, we help you understand your VAT obligations and manage the registration and reporting process. Our services can include:

• Assessing whether VAT registration is required or voluntary registration may be appropriate

• VAT registration and deregistration applications

• Reviewing VAT records and reconciling VAT control accounts

• Preparing and submitting VAT returns using Making Tax Digital-compatible software

• Advising on VAT rates, recoverable input VAT and suitable VAT accounting schemes

• Support with VAT queries and correspondence with HMRC

We tailor our support to your business activities and agreed service requirements, helping you maintain accurate records and meet your VAT deadlines.