Value Added Tax (VAT)

VALUE ADDED TAX (VAT)

VAT is one of the most complicated taxes a business faces, and the cost of getting it wrong — in penalties, interest and wasted time — can be severe. At TaxDigit, chartered certified accountants in Guildford, Surrey, we give you specialist VAT knowledge so every pitfall is avoided and every opportunity is taken.

From your very first registration through to complex cross-border transactions, we make sure you are on the right scheme, filing accurately, and never paying a penny more than you should.

The problems we solve for you

VAT errors are easy to make and expensive to fix. We take the risk off your plate entirely.

• Penalties and interest — we keep your returns accurate and on time.
• Wrong VAT scheme — we choose and administer the best scheme for you.
• Complex transactions — land, property, imports, exports and Group VAT handled with confidence.
• Registration confusion — including voluntary registration where it benefits you.

Why companies choose TaxDigit

We advise on all the complex aspects of VAT that catch businesses out — so you can focus on running your company, not deciphering tax law.

• Specialist VAT knowledge across every scheme: Flat Rate, Cash Accounting, Margin and more.
• Expert handling of land, property, overseas and partial-exemption matters.
• Accurate, timely returns prepared or reviewed by qualified professionals.
• Trusted UK tax advisors for VAT, serving businesses across Guildford and Surrey.

We can prepare your VAT returns or review your own

Whether you want us to handle your VAT returns end-to-end or simply review what you prepare in-house, we tailor our service to you. We advise on registration, scheme selection, land and property, exemptions, zero or reduced-rate VAT, overseas matters, Group VAT, business sales and acquisitions, and many other difficult areas.

Speak to a VAT specialist

Frequently asked questions

Do I need to register for VAT?

You must register once your taxable turnover passes the VAT threshold, and you can register voluntarily before that. We advise what’s right for you.

Which VAT scheme should I use?

It depends on your business — Standard, Flat Rate, Cash or Annual Accounting can each suit different situations. We help you choose.

Do you file MTD-compliant VAT returns?

Yes. We prepare and submit your VAT returns under Making Tax Digital using compatible software.

What is the UK VAT registration threshold?

You must register if your taxable turnover for the last 12 months goes over £90,000, or if you expect it to go over £90,000 in the next 30 days alone. You can also register voluntarily below the threshold. Source: GOV.UK.

What are the UK VAT rates?

The standard rate is 20%. A reduced rate of 5% applies to some goods and services, such as home energy and children’s car seats, and a zero rate applies to items such as most food and children’s clothes. Source: GOV.UK.

Who can use the VAT Flat Rate Scheme?

You may be able to join the Flat Rate Scheme if your VAT taxable turnover is £150,000 or less, excluding VAT. We check whether it actually saves you money before you join, because the flat rate depends on your business type. Source: GOV.UK.

How does VAT cash accounting work?

Under the Cash Accounting Scheme you pay VAT on sales when your customers pay you, and reclaim VAT on purchases when you have paid your supplier. You can join if your estimated taxable turnover is £1.35 million or less in the next 12 months, and you must leave if it goes over £1.6 million. Source: GOV.UK.

Does an overseas company selling in the UK need to register for VAT?

Usually yes. A business not established in the UK (a non-established taxable person) must register for UK VAT regardless of the value of its UK taxable supplies; the £90,000 threshold does not apply. We handle UK VAT registration and returns for overseas-owned companies. Source: HMRC VAT Registration Manual.