VAT Registration in Nottingham

VAT Registration

What is VAT Registration?

VAT registration is the process of listing your business with the government as active in production and sales.

After a business registers for VAT, it’s able to reclaim any VAT paid on company purchases and becomes responsible for:

  • Charging VAT on any goods or services sold (and charging the right amount!)
  • Paying any VAT due to HMRC
  • Submitting VAT Returns
  • Keeping VAT records and a VAT account

Companies registered for VAT will be issued a unique VAT registration number (VRN). This number should be included on all of your business’ sales invoices.

Do I need to register for VAT?

So, if your turnover exceeds the VAT threshold of £85,000 then you must register for VAT. However, you can also voluntarily choose to register your business.

Registering for VAT can ensure that you are ready to grow as a business, creating a positive impression about your intent, and allowing you to reclaim VAT on purchases you make.

Benefits of VAT Registration

What are the Benefits of VAT Registration?

Image for You get a VAT registration number

You get a VAT registration number

This may not seem too exciting, but your business can benefit from displaying your VAT registration number on all your documents, website, and stationery. This can add credibility to your business and give you a more trustworthy and professional image.

Image for You can reclaim VAT from the past

You can reclaim VAT from the past

By registering for VAT, you may be eligible to claim for VAT from the past 4 years for items that you are still using. This would require you being in business for this length of time and having kept VAT invoices and records for the period.

Image for You can claim VAT refunds

You can claim VAT refunds

Once registered, you can reclaim for VAT on all goods and services your business buys. This must be balanced with what your business is charging and receiving in VAT payments over the year. If you have invested in equipment, plant, machinery or IT, you may be able to reclaim a large amount of VAT.

When it is time to submit your VAT return, you may find that the HMRC sends you some money for a change!

Image for You can improve your business image

You can improve your business image

If you are a new small business, another benefit to being VAT registered is that most people are aware of the VAT threshold. You then appear to your potential customers that you are bigger than you actually are by displaying your VAT number.

This may also help you when it comes to dealing with other businesses. Some businesses prefer it if you can raise a valid VAT invoice.

How can Seagrave French help you?

How can Seagrave French help you?

For VAT registration we can assist with…

  • Advising if you need to or if it would be beneficial to register
  • Completion of the VAT registration forms and formalities
  • Advising on the best VAT schemes to use suitable to your business – some you have to notify HMRC you are using and some you don’t

In addition, we can assist with…

  • Completion of VAT Returns or training on how to complete them
  • VAT Planning
  • Dealing with any contentious disputes that arise with Customs
  • Attendance at VAT inspections

Contact Us

Whatever your ambitions, we will commit to them wholeheartedly and deliver the premium service you deserve. Get in touch today to book a chat with the experts at Seagrave French.

0115 9415193

1 Poplars Court, Lenton Lane, Nottingham, NG7 2RR

M-F: 9am-5pm, S-S: Closed

Seagrave French Chartered Accountants

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