Value Added Tax (VAT) Services

Value Added Tax (VAT) is a tax added to most products and services sold by VAT registered businesses. Current VAT Threshold for compulsory VAT registration is £85,000 of taxable turnover turnover . While the running VAT scheme for companies under the £85,000 threshold remains optional, it may be beneficial to businesses to opt-in enabling to reclaim any VAT on purchased goods and services

HMRC summarizes responsibilities of a VAT registered business as following

Include VAT in the price of all goods and services at the correct rate
Keep records of how much VAT you pay for things you buy for your business
account for VAT on any goods you import into the UK 
report the amount of VAT you charged your customers and the amount of VAT you paid to other businesses by sending a VAT return to HM Revenue and Customs (HMRC) - usually every 3 months
pay any VAT you owe to HMRC

Despite the summary above being described in general terms, VAT has evolved into complex tax scope since it originated in Value Added Tax Act 1973. Such complexity of the VAT scope and ever changing tax law imposed on businesses may be very challenging to deal with for non-tax professionals. That is why with its team of professionally trained staff specialized in this

area of tax, are here to help and strive to offer the best services our clients no matter if you trying to understand whether your business could benefit from VAT registration or you are established enterprise running VAT looking to find cost savings by outsourcing the VAT function.

Our VAT Review services operates on . Therefore,

do not hesitate to get in touch for independent initial consultation with one of our VAT specialist.

At Telleios we always think of the future of the tax and therefore we are proud partner with Xero

cloud accounting software, which, inter alia, is Making Tax Digital Ready platform allowing us submit HMRC Returns via Xero accounting

software rather than manual submission via the HMRC website.