If your small business’s turnover is more than the VAT threshold then you may have to register for VAT. If this is the case then you will have to complete and submit a VAT return to HMRC, usually each quarter.
However, even if you are not required to register it can sometimes be beneficial to register voluntarily. Deciding whether you have to or should register can be confusing but don’t worry, help is at hand. We can talk this through with you and ensure that you receive the best advice possible based on your circumstances.
The VAT return can be relatively simplistic or can be very complex depending on your small business. Additionally, VAT offers various schemes that you can take advantage of. Therefore, we would recommend outsourcing the completion of your VAT returns and obtaining advice about VAT from professionals.