...

VAT Registration Services and Filings

VAT Registration Services.

In Just £109.99

VAT Registration VAT1
VAT Registration Services and Filings2025-03-08T22:31:59+01:00

Register and Manage Your VAT with Xact+ Accountants

VAT Registration

£109.99

VAT Application Processing for UK Established Businesses

  • Registration Application

  • HMRC Follow Ups

  • VAT Schemes Selection

  • 2-3 Days of Application Processing

VAT Returns Filing

£59.99

VAT Return Per Quarter Upto £90k

  • MTD Compliant VAT Returns

  • Cross-Border Transactions

  • VAT Refunds Follow Up

  • 7-10 Days of Return Processing

Reach Via Phone

Frequently Asked Questions:

What is VAT, and how does it work?2025-03-07T00:29:22+01:00

VAT is a tax applied at each stage of the production and distribution chain, ultimately borne by the end consumer. Businesses add VAT to the price of goods and services they sell (output tax) and can reclaim VAT paid on their purchases (input tax). The difference between output tax and input tax is paid to HM Revenue & Customs (HMRC).

What are the current VAT rates in the UK?2025-03-07T00:30:38+01:00

The UK has three VAT rates:

  • Standard Rate (20%): Applies to most goods and services.

  • Reduced Rate (5%): Applies to specific items like domestic fuel and power.

  • Zero Rate (0%): Applies to essential goods such as most food items and children’s clothing.

How and when should VAT returns be submitted?2025-03-07T00:31:23+01:00

VAT returns are typically submitted quarterly, summarizing the VAT charged and paid during the period. The deadline for submission and payment is usually one calendar month and seven days after the end of the accounting period. For example, for a period ending on 31 March, the deadline would be 7 May.

What is Making Tax Digital (MTD), and how does it affect VAT reporting?2025-03-07T00:31:55+01:00

Making Tax Digital is a UK government initiative aimed at simplifying tax reporting. Since April 2019, most VAT-registered businesses are required to keep digital records and submit VAT returns using compatible software. This move is designed to make tax administration more effective and efficient.

What are the penalties for late VAT registration or submission?2025-03-07T00:32:23+01:00

Failing to register for VAT on time or submitting returns late can result in penalties and interest charges. The specific penalties depend on the nature and duration of the default. It’s essential to adhere to all VAT obligations to avoid such penalties.

When is a business required to register for VAT?2025-03-07T00:30:00+01:00

A business must register for VAT if its taxable turnover exceeds £90,000 in a 12-month period. Voluntary registration is also possible for businesses below this threshold, which can be beneficial in certain circumstances.

Title

Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.