What is VAT?
Value Added Tax (VAT) is a general, broadly based consumption tax. It applies to all goods and services that are bought and sold for consumption in the EU.
VAT is the following:
A general tax that applies to all commercial activities involving the production and distribution of goods and the provision of services. If the annual turnover of the business is less than the £85,000 threshold, the business does not have to charge VAT on their sales.
Charged as a percentage of price, which means that the actual tax burden is visible at each stage in the production and distribution chain.
Why choose us?
VAT can be a struggle for many businesses. as making a mistake can be costly for your business. This is why we ensure HM Revenue & Customs receive everything they need from you. We produce VAT returns quarterly and make it our responsibility as our accountant to submit these on time. With HMRC regulations constantly changing it can be hard to keep on top of VAT payments. At Region Accountancy we help you comply with the regulations and that overpayments will not be made.
Region Accountancy can assist you with:
- Quarterly Returns
- Land and property transactions
- Partial exemptions
- VAT Registration
- European Union VAT issues
- Special accounting schemes
- Registration and deregistration
- Assisting you with VAT returns