How to Check a UK VAT Registration Number Quickly and Easily

There are many reasons you may feel the need to carry out a UK VAT number check.  Here are two really simple ways that I use to carry out a VAT registration number check: 1. Call HMRC and Ask Them To Do a UK VAT Registration Number Check on your Behalf If you call the (more…)

Correcting VAT Errors

We all make mistakes.  And VAT Returns, with all their complications, are no exception to this.  Thankfully HMRC has a process in place for correcting VAT errors so there is no need to panic. How to Correct VAT Errors and Make an Adjustment If you meet the following conditions you can correct your VAT error (more…)

How to Deregister for VAT

Deregistering for VAT is usually quite straightforward and can be done online or by post.  But what some business owners overlook is that remaining voluntarily VAT registered could be beneficial. And that choosing the wrong date to cancel your VAT registration could mean you end up overpaying on VAT. The VAT deregistration process is an (more…)

What is an HMRC VAT Assessment?

You will receive a VAT Assessment Letter from HMRC if you have not submitted a VAT return and paid the VAT on time for a particular quarter. What is a VAT Assessment? A VAT Assessment from HMRC is an estimate of how much VAT they think you owe for the missing quarter. It has contains (more…)

VAT Penalties, Surcharges & Interest Explained

If you miss your VAT filing and payment deadline, then you can face penalties and surcharges. The amount of each you may need to pay varies according to: circumstance; turnover and; the number of late VAT returns that have been filed. How to Check VAT Return Dates and Payment Deadlines What Happens When You Submit (more…)

VAT Deadlines

VAT Return Due Date Your VAT deadline for submitting your VAT return online and paying HMRC is generally 1 calendar month and 7 days after the end of your VAT quarter end date. Make sure you leave enough time when making your payment for your payment to clear HMRCs account.  HMRCs bank details for your (more…)

How Far Back Can You Claim VAT on Expenses?

There are rules set out by HMRC which need to be followed by anyone who wants to claim back VAT on expenses that were either missed in previous VAT quarters or paid before they were VAT registered.

How to Register for VAT Online

HMRC VAT Registration Online In most cases businesses can register for VAT online on the HMRC website. You either need to create or login to your Government Gateway account.  You may already have a Government Gateway account for your business if you are registered for other taxes, such as PAYE or Corporation Tax. Completing Your (more…)

Benefits of a Voluntary VAT Registration

There are many businesses that opt for a voluntary VAT registration and there are benefits of doing so, here’s why. HMRC Voluntary VAT Registration You can opt to register for VAT even if you are below the VAT registration threshold (£85,000 for 2017/2018) and many businesses do opt to do so. The Benefits of Voluntary (more…)

VAT Thresholds 2017/2018

VAT Registration Limits For the tax year 2017/2018 the VAT registration threshold is £85,000. This means your business can turnover £85,000 before it exceeds the limit required to register for VAT.  This VAT registration threshold changes each year on 1 April each year, so you should keep an eye on changes to the annual registration (more…)