VAT
Of all the taxes a business may be subject to, VAT is probably one of the widest ranging, potentially complex and most damaging or rewarding.
One reason for this is that VAT is levied on one of the biggest figures in your business sales.
The good news is, for most businesses, the rules are quite simple and the administration straightforward, as long as you have good bookkeeping, and up to date information to evaluate your position at any time. (See our section on bookkeeping).
There is a VAT registration limit, which changes from time to time, that determines when most businesses must be registered for VAT. (We will soon be producing a video on understanding the registration process).
In many cases however, the rules can be used to help your business improve cash flow and profit!
Missed by many accountants, the VAT registration process can be used to increase profits and cash flow by over £6,000. The thinking behind registration, its effect on pricing, and on how your business interacts with its customers and suppliers, is not something to be left to chance or inexperience.
Our VAT services are broken down into the following key areas:
- Advice
- Implementation
- Process
- Support
For a free VAT review, on whether you should be registered, and what the implications might mean, please call our office on 020 8241 3000 or email: gds@gordonsknight.co.uk Together, we will review your very specific situation and circumstances and give you advice on all VAT implications.
