KEEP THE INTEREST IN YOUR POCKET,
NOT THE TAXMAN'S.
8 YEARS ON THE MARKET

 

 

customer.service@accountancyhere.com

Tel:  0203 551 6959 

My UK accountant Ltd  Reg. 6781561

Skype: (Skype) accountants.uk
Featured Services

COMPANY FORMATION

£40 Limited company£200 Limited partnership ( LLP )

ACCOUNTING SERVICES

£55 Online accounting£40 Payroll services£40 PAYE TAX£750 Final account and TAX£190 Companies House annual return£100 Self assessment

TAX SERVICES

£80 VAT registration£55 VAT return£120 Corporation tax

COMPANY LIQUIDATION

£200 Company dissolution

COMPANY SUPPORT SERVICE

£95 Apostile Service

HIGH STREET UK BANKING

£20 Business Bank Account

 

USEFUL INFORMATION

VAT

 



 
 
 

Payment Options



PayPal

 
HomeUK company registration formCheck company nameContact usLess corporation TAX
VAT information

  • Value added tax (VAT) is a tax levied on sales by the UK government. It is described as an "inderect tax" and ultimately the tax is paid by the final consumer of the goods and services.
  • VAT is administrered in the UK by HM Customs and Excise
  • There are currently three rates of VAT , namely 0 per cent, 5 per cent and 20 per cent
  • The way in which the VAT system operates is explained whereby VAT is paid at various stages in the distribution chain
  • Businesses may be classified as standard-rated, zero-rated, exempt or partially exmpt
  • The book-keeping entries for the recording of VAT in the books of account in shown for the various types of business
  • When preparing sales invoices the trade discount is deducted before VAT is added on
  • If a business allows cash discount for prompt payment the VAT is calculated on the sales value less any cash discount offered. If the cash discount is lost because of late payment the VAT will not change.
  • VAT may also be charged on items of expense and the purchase of fixed assets.The book-keeping entries vary depending upon whether the firm is able to reclaim the VAT paid or not
  • At the end of a particular quarter a VAT return form is completed and sebt to HM Customs and Excise together with any payment due.Alternatively,there may be a refund due
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