VAT

With our extensive experience in working with new businesses we can assure you that our advice will be tailored to meet your specific business goals and objectives. From advice on starting up as a sole trader to incorporation of a Limited Company, we are here to advise and support you through the early days of your business

VAT stands for ‘Value Added Tax’ and as the name suggests it is a tax that’s charged on most goods and services that VAT registered businesses provide in the UK.

VAT is charged when a VAT registered business provides goods or services to either another business or an individual. The supply of some goods and services are zero rated (0% VAT) even when provided by a VAT registered business, whilst some goods and services are exempt from VAT (not included within the VAT return) and where a business provides both types (standard and exempt) it is required to prepare a partial-exemption calculation.

At Jones & Graham, we can provide the following services, advice and support:

Register your business for VAT
Advise you on the most suitable VAT scheme for your business
Register your business for online services to allow submission and payments to be made online (as required by HMRC)
Register your business for MTD (Making Tax Digital) as is now mandatory if your taxable turnover is over £85,000
Prepare and calculate your VAT liability/repayment on a quarterly/monthly basis
Remind you when your VAT submission deadline is approaching

Whether you would like us to prepare and calculate your VAT return on your behalf or simply check that your calculations are correct before you submit them, we will be happy to help.

Please contact us for further assistance and to discuss your own requirements.