VAT, also known as Value Added Tax, is a tax on goods or services sold in the UK. The threshold to register for the VAT scheme is a turnover (income only) of £85,000 or more, over any rolling 12-month period. Once your business is vat registered, you must charge VAT on your sales; however, you can also claim vat back on any vatable purchases.

There are a few purchases and sales which can be zero-rated VAT or VAT exempt. We will guide you through your vat registration process and highlight any potential sales or purchases which will not contain VAT.

Once registered for VAT, you have to submit a quarterly VAT return. This return states how much VAT you have paid and received over the past three months, with the difference being paid to or received from HMRC.

There are different VAT schemes available such as the standard VAT rate scheme and the flat rate VAT scheme. We recommend that you speak to us to discuss which scheme would benefit your business the most.

You can also register for VAT if your turnover is under the threshold, however, this would be a voluntary registration.

CIS accountants for subcontractors

We also offer the following services for our CIS contractors:

Register your business as a subcontractor with HMRC
Offer advice on gross payment status and register for gross payment status with HMRC
Reconcile all CIS deductions with your sales invoices
Complete your tax returns on time
Calculate tax refunds ensuring the largest repayment possible
Chase up tax repayments with HMRC
Register ourselves as your agent, which authorises us to deal with all your HMRC correspondence
Represent you in any HMRC investigation
Provide ongoing advice and support
File everything accurately and on time ensuring all penalties are avoided

VAT Threshold

Construction Industry Scheme (CIS)