VAT registration for small businesses
Our specialist expertise ensures you pay the minimum amount of tax with our tax planning and advice.
Understanding tax is not easy. We all make decisions about our finances, and the simplest or most convenient options may not always be the most tax efficient. In these difficult economic times, tax planning is more important than ever as we all seek to maintain our income and wealth in the face of what seems like ever increasing tax, inflationary and trading pressures.
The Specialist Tax department at Neb Accounting have in-depth knowledge and experience of advising individuals, entrepreneurs and landowners on complex tax matters.
Our specialist Tax Team will take the time to understand your personal circumstances, family arrangements, business and financial situation to ensure that you have a straightforward strategy.
Our tax planning advice will maintain flexibility in your financial affairs and will give you confidence that you are making the best use of the tax reliefs and allowances available to you.
VAT registration in the UK
You must register for VAT as soon as either your business passes £85,000 in turnover or you predict that, within your company’s current financial year, you will pass that level of revenue.
Our experts will, in consultation with you, complete the VAT01 form so that your business can successfully apply for its VAT registration number. Once completed, we will email you the completed form to sign. After you have put your signature on the document, you can either post it back to us or scan and email it.
There are two different HMRC offices handling different types of VAT registration based upon your company’s history and your personal history. To make sure you receive your VAT number as quickly as possible, we will submit the form to the relevant VAT registration office address.
You will receive your VAT number direct from HMRC. Around three quarters of all VAT numbers are received within 10 working days. At busier times, HMRC may take up to a month to provide you with your VAT number
If, after consultation with our team or with your accountant, you decide that your business would benefit from joining either the Flat Rate Scheme, the Annual Accounting Scheme, or the Annual Accounting Scheme plus the Flat Rate Scheme to the correct office, we will make the necessary application on your behalf. Depending on your circumstances, you may need to sign and return a hard copy of the application form we fill in on your behalf.
You will receive notification direct from HMRC, normally within 10 working days, that your application to join either the Flat Rate Scheme, the Annual Accounting Scheme, or the Annual Accounting Scheme plus the Flat Rate Scheme to the correct office has been successful
WHAT IS INCLUDED IN OUR VAT SERVICES PACKAGE?
Tax is complicated and regulations are becoming ever more complex and time-consuming. Neb Accounting’s philosophy is that you should never pay a penny more than you need to. We are happy to offer tax planning and advice on:
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We can help maximise and protect your hard-earned wealth so that you can have financial freedom in your retirement.