VAT

VAT

You must register for VAT if your turnover exceeds £60,000 in a 12 month period. VAT Returns are completed every quarter with the calculated vat being paid to HMCE. VAT is not reclaimed on all expenses. Failure to have a knowledge of VAT can result in multiple fines and surcharges. Tere are now various VAT incentives to help small businesses. An expert with a working knowledge of such programmes can be extremely valuable to the success of your business.