Breakthrough Finance Ltd, London Small Business Accountants 	T: 0203 598 0335 M: 078 4306 4874

Value Added Tax (VAT)

A new business starting up does NOT have to be VAT registered from day one. Each year Her Majesty's Revenue & Customs (HMRC) publish an annual amount which, if your total sales go over that amount then by law you must be registered for VAT. If your sales are under that amount you can remain outside the scheme or you can register voluntarily. The choice is yours.

We will handle VAT registration for you and help you make sure that your business is fully compliant with the rules and regulations of VAT processing to ensure that your books and records are correctly maintained.

What Does Being Registered For VAT Mean To You And Your Business?

If you are VAT registered then it means that you must charge 20% VAT on all sales you make whether invoiced on not. If you do issue an invoice then it has to meet very specific requirements.

There are thousands of pages of rules governing VAT such as what is and what is not subject to VAT. Breakthrough Finance Limited will do its best to guide you through all those issue when you commence your VAT registration. For example some items are subject to VAT and some are not, others are but at a lower rate.

Being registered also means that you can usually reclaim any VAT you have paid to your suppliers. Conversely if you are not registered for VAT you can never claim back any VAT paid on your supplier invoices.

If you appoint Breakthrough Finance Limited to handle your bookkeeping then we will prepare and file your VAT return with HMRC on your behalf so that you do not have to worry about any of this.

Although it is important to note that you are still responsible for the accuracy of the VAT report and we will require you to authorise us before filing, each and every time.
Breakthrough Finance Ltd, London will handle VAT registration for you and help you make sure that your business is fully compliant with the rules and regulations of VAT processing to ensure that your books and records are correctly maintained

Contact Breakthrough Finance Limited to arrange a consultation on your accounting requirements.



Breakthrough Finance Limited,
Registered Office: First Floor, 20 Margaret Street, London, England, W1W 8RS. Company Number: 04648676 Registered In England & Wales.
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