Call Now 0203 633 2018
VAT is complicated. The technicalities and jargon used by some accountants can make even the longest-standing contractors slightly confused, so we’ve aimed to create a jargon-free, back to basics guide to value-added tax.
Some contractors choose to register for BAT even if their annual turnover doesn’t meet the threshold. Registering and having a VAT number may help give your company the appearance of being larger than it is. Also when quoting for work some companies mandate that suppliers must be limited and be VAT registered.
However, this may make you less competitive for example: if you aren’t VAT registered currently and sell a product for £100, then this is all your customers will pay. If you then become VAT registered, you’ll have to charge VAT on top and will have to charge £120.00 or soak up the difference yourself and reduce your profit margin.
Before registering for VAT, it’s probably best to have a chat with an accountant (who will invariably quote you a price plus VAT).
Our VAT services include:
The above are just some of the services our Bookkeeping Managers can help you with, for a more detailed discussion please contact us today on 0203 633 2018 or complete our online contact form. We are here to help you start and grow your business and take the burden off you so you can get on with running your company.
Arrange One Hour Free Consultation
Guaranteed Reduction In Accountancy & Taxation Costs
Send Message Now