VAT Returns Service
Value Added Tax or VAT, is a tax that applies to most
UK business transactions involving the sale of goods or
services. It is vital to keep accurate records once you
are registered for VAT.
In simple terms a business will pay VAT on its purchases
(input tax) and charge VAT on its sales (output tax).
For businesses that receive more output tax on sales
than purchases, you will pay HM Customs and Excise the
difference.
If the business pays more input tax then receives output
tax, then you will be in a position to reclaim VAT. Both
are as a result of completing a VAT Return, which is
compulsory once registered for VAT.
Some business supplies are exempt from VAT for example
books and children’s clothing, the HM Customs and Excise
enquiry line 0845 010 9000 can advise on supplies which
are exempt or zero rated, depending your business
activity.
Ledger Services have been involved in VAT since the
company began back in 1997 so we have a wealth of
experience for you to draw on.
Self Build VAT Returns -
Business VAT Returns |
