& Co Accountants Ltd
Registration No. 8470501 Registered in England & Wales
of Institute of Financial Accountants
Studio 3, Longsight Business Park, Hamilton Road, Manchester, M13 0PD
Tel: 0161 224 3510
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Do you need to register you
business for VAT and if so what need to be consider? The quick answer
is yes, if your business services, sales or supplies exceeds the minimum
statutory registration limit than you needs to register for VAT.
You can also register
voluntarily with VAT even if your turnover is below the
statutory threshold limit if there is requirements for that for doing your
business.This can be advantageous
for you to register voluntarily if:
most of your transactions, costs or purchases include VAT
You can claim back the VAT that you are paying on your purchases or cost
if your sales and supplies are exempt, zero rated or less than the
standard rated for VAT purpose.
There are number of Special Schemes introduces by the HMRC which
can be considered for the options keeping in views each and independent
circumstances of the business.
Cash flow is main concern of every business to
help with this cash flow problem HMRC have created a number of Special Schemes. Few of them are:
Flat Rate Scheme
Special Schemes for Retailers
For details of above schemes or to discuss
the needs or advice on VAT matters we are just a call away to help you.
Whether you should use any of the special schemes above,
or whether you should be registered for VAT or not, depends on your individual
If you are at all
unsure how to proceed please call us now on 0161 224 3510 or
fill out our contact us form and we will call you back as
soon as possible.