VAT is a tax on consumer expenditure. It is collected on business transactions, imports and acquisitions. Most business transactions involve supplies of goods or services. VAT is payable if they are:

•    supplies made in the United Kingdom (UK) or the Isle of Man
•    by a taxable person
•    in the course of a business
•    are not specifically exempted or zero-rated.

VAT rates?
Generally there are 3 rates of VAT:

•    Standard rate 17.5%
•    Reduced rate, currently 5%
•    Zero rate.

You will be liable to register for VAT if your turnover exceeds the threshold. You can also register voluntarily if you want to claim VAT and purchase from a VAT registered supplier. Our service includes:

•    Assistance with VAT registration
•    Advice on VAT planning and administration
•    VAT control and reconciliation
•    Help with VAT computation and returns
•    Planning to minimise future problems with Customs and Excise