Did you know businesses with an annual turnover of £85,000 (from 1 April 2018) or more need to register with H M Revenue & Customs to pay VAT (Value Added Tax).
VAT and excise regulations are complex and the penalties for getting things wrong can be high.
As with other taxes, it is your responsibility to notify changes, and you may incur penalties if you do not do so.
One of the most common mistake we see is a failure to register for VAT.
Whether you want help or advice on registering for VAT or help maintaining your VAT records, contact Holden Associates today on 01704 320560 and see how we can help you with the complexities of the VAT system.
It is worth pointing out that if Holden Associates provide you with bookkeeping services we will ensure your vat is not only claimed and declared accurately but we will also ensure your records meet the standards required of a UK VAT registered business.