VAT Services FAQs

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February 25, 2022

So, you want to learn about VAT services. Well coming to Nottingham’s Top Certified Chartered Accountants & Business Advisers website is probably a good first step.

At Seagrave French VAT services are probably one of the areas of our business that we are most enthusiastic about. Compliance with VAT is complex. Investigations by the VAT man can be intense – all the more important that your VAT returns are completed correctly. Our dedicated team provide a full range of VAT services and are happy to offer VAT advice if you have any questions.

So it is safe to say that we are pretty experienced with this process so we get asked a lot of questions about what we do. In this blog, we will cover some of the most frequently asked questions we get asked at Seagrave French.

What is VAT?

Value-Added Tax is commonly known as VAT. The simple principle behind VAT is consumers pay a tax on the products they buy based on the value of the product.

What is a VAT Return?

A VAT return is a form you file with HMRC, usually four times a year, to show how much VAT you are due to pay them.

What is VAT Registration?

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

What is a VAT Registration Number?

The VAT Registration Number is a unique identifier of a business operating in one of those countries, used for the purposes of managing the payment of those taxes.

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.

What are the Benefits of VAT Registration?

  • You get a VAT registration number
  • You can reclaim VAT from the past
  • You can claim VAT refunds
  • You can improve your business image

What are VAT Health Checks?

A VAT Health Check service is thorough and holistic, reviewing all aspects of the way your company handles its VAT obligations and identifying practical steps you can take to address any potential issues.

What are the Benefits of VAT Health Checks?

  • Confirm VAT Registrations
  • Review Your Supply Chain
  • Maintain Your Relationships
  • Assess Your Recovery Position

What is VAT Planning?

VAT planning for your business will ensure that you can go about your operations without any concerns about how well your VAT liability is managed.

What are VAT Disputes?

VAT Dispute means a dispute with HMRC following the issue of an assessment, written decision or notice of a civil penalty relating to your VAT affairs.

We hope that any misconceptions about VAT services have been cleared up and that you have had your questions answered. Perhaps you are interested in investing in VAT services or one of our other services?

Whatever your reason for reading this blog we are happy that you did and if you are interested in reading more please consider visiting our knowledge bank here.

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