Making Tax Digital for VAT registered businesses.

Making Tax Digital is a new rule coming in two stages. This Q&A session covers stage one which is for VAT and came into effect in April 2019. When does MTD start? Stage one affects VAT registered businesses with turnovers above £85k with effect from their first...

Zero Rated VAT items

Zero-rated VAT is applied to things like food, children’s clothes, and books etc. Also if selling abroad, say to the US, your goods will be Zero-rated. If you are VAT registered, you can reclaim the VAT on your overheads and costs related to those zero rated sales –...

Should I register for VAT?

You must register for VAT when your turnover reaches £85,000 in any 12 month period. VAT registration must take place 30 days, following the end of the month in which the threshold was reached in which to register. From that date you must charge VAT to your customers...