VAT DEFINATION AND COMPUTING

May 12th, 2015
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What is VAT ?Value Added Tax (VAT) is a tax collected on the sale of your goods or services and relinquished on the purchasing of the goods or services that will be used in your business. The administration of VAT in the UK is now managed by HM Revenue and Custom.Should my company be VAT registered ?

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What Is Vat?|What is VAT ?Value Added Tax (VAT) is a tax collected on the sale of your goods or services and relinquished on the purchasing of the goods or services that will be used in your business. The administration of VAT in the UK is now managed by HM Revenue and Custom.Should my company be VAT registered ?VAT registration is only compulsory once the turnover of your company exceeds or is likely to exceed the government threshold of 70,000 (2010-2011) for any rolling 12 month period. You can register for VAT on a voluntary basis at any point up until when your companys turnover exceeds the abovementioned threshold. There are essentially a number of considerations to take into account when deciding whether or not to register for VAT. * Will my company ever exceed the threshold? If you do not envisage that your company will turnover in excess of the threshold then you may

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