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What businesses must consider with VAT

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VAT returns CamdenWhen you have been in business for as long as we have, you tend to learn many important lessons about your industry. This includes that you must do everything in your power to aid your clients. If it means offering a bespoke service, then you do it. We have taken actions such as these ourselves. As a result, we have become the most reputable company excelling in VAT returns Camden has.

What some people call the simple tax VAT is something that influences large and small businesses all over the UK. In relation to it, there are numerous considerations for you to make. What we are going to do is go through essential issues and areas that show up frequently for companies.

Should you register?

Firstly, we will discuss whether you should be a VAT registered company. Despite sounding simple, this does cause trouble for many people. Right now, the registration threshold is £85,000. You need to review this on a rolling 12-month basis. It should not merely be based on the turnover figure that comes with your annual accounts. It is also crucial to contemplate what you should include while observing the threshold.

Partial exemption

You might be wondering whether your company is partially exempt as well. This is an area that companies fear greatly because they don’t want to miss out.

As far as VAT legislation goes, this is a complex area. In addition, your business could make a blend of exempt and taxable income. If it does, it is critical to review your VAT recovery regularly. Some common supplies on the exemption list relate to services like insurance, welfare, and education.

Help with VAT returns in Camden

At Brian G Lonis & Co, we have a huge amount of experience with everything to do with Value Added Tax. We can help you with control and reconciliation, registration, and negotiating with customs. In short, you can rely on us to meet all of your requirements.

If you would like to work with the best company for VAT returns Camden has, please contact us. You will find we are a professional team that strives to offer a great service for an even better price.