I often get faced with the statement 'but my business has not or will not reach the VAT registration threshold (currently £85,000 in 2020-21) so therefore I will not register for VAT. Such a linear way of approaching the VAT question is futile. What you need to ask yourself is 'why should I register for VAT and how can I make the numbers work for my business'. Let me know in the comments below if you agree or disagree.
Literally told me what I needed to know about the importance for prestige. We haven't made a single pound yet but in our field appearance is extremely important.
Thank you for this, it's brilliant! I am yet to find information about VAT so concisely and well explained. Any Videos on how to register for VAT yet? That would be perfect for me right this moment. Thought I would ask
Hi, thank you for this video. For a US LLC, is it possible (legal) to do the VAT return my self online? or it is mandatory to ask a UK fiscal representative agent to do it? Thank you!
Hi, is there an obligation to register for VAT if turnover of 85K is generated but from overseas sales ( USA). In other words, do overseas sales count towards VAT registration threshold (£85,000)?
Hi Piotr, thank you for your question, unfortunately it's difficult to provide a meaningful answer in a RU-vid comment box as there are numerous aspects to consider. You can book a 20min discovery call with one of our qualified accountants, who could help you >>> aidhanfinancial.com/book-a-discovery-call
in order to claim a reclaim for up to 4 years ago, where it says "From what date do you want the business to be registered?" do I need to backdate up to the 4 years or is it that I can reclaim up to 4 years regardless of the date of registration? Also, if you are a small business considering voluntary registration and you are looking to reclaim VAT, does it make sense to voluntarily register if there isn't much to reclaim (if the reclaim option is a key driver in registration), if so what amount would you say is just not worth it? Thanks!!
I’m nearly at the bracket so I’m going to have to go vat reg. it’s a bit of a grey area to at which point you have to register for eg: £5 before the bracket £10k before etc ?
I am sole trader from last 4 years and i have purchased iphone from Vodafone there was an option buy as sole trader will exclude vat so can i purchase it as sole trader and will it not gonna affect me any bad way. I am self employed delivery driver i use my own vehicle own mobile for work i was needed a good battery phone for work as i work longer than normal so would it be okay to purchase that without paying vat? Kindly clear this doubts thank you
I am planning to form a limited company in the UK (small business). I might make little to no profit from the business at this stage and I'm planning to sell digital products i.e. courses, ebook, etc. Do I have to register for VAT after forming the company?
Hi Fahim, thank you for your question. You can go along to our Q&A section where you can post your question and get a response from a qualified accountant or chartered tax advisor >>> accountingtaxacademy.com/qa-section/
I am opening a barbershop , the property is already VAT registered. That means I am going to be paying VAT for the rent . Is that mean I am gonna have to charge my costumer VAT too ? Or would I be better off without VAT ?
Hi Agit, thank you for your question. Unfortunately as it specific to your circumstances, we cannot answer using you tube. You can get this question answered by a qualified accountant using our bitesize advisory services as follows >>> aidhanfinancial.com/bitesize-advisory/
Something I want to know when do forms quarter yearly is it write for that quarter or like that year so far (like if 2nd quarter you say what 1st and 2nd together is or just 2nd) Mainly trying to research to prepare for working
Hi mlee, apologies we have not fully understood your question. You can book a no-charge 15 min call with a qualified accountant who would be happy to answer your question. calendly.com/aidhan/i-have-a-query-and-need-to-talk-with-an-accountant
A person residing in Qatar and the founder of a ltd company in UK and working as a seller on Amazon UK - Do I have to pay the vat from the beginning of the sale, or do I have to reach the amount of 85,000 pounds of income? ..waiting for your answer plz
Thanks for informative videos Please advise can a UK limited company receive remittance say as a gift from parents in India in inr to gbp via online wired transfer and what are its tax implications compared to receiving money as a gift to a individual in UK ? Ideally this money will then be used for 1st property purchase in the UK If you can make a video will be brilliant and useful to hopefully few people 😊🙏 Many thanks
Hi Raj, unfortunately this is not something we can answer simply on a RU-vid comment as you are requesting advice. You can get a qualified response by using our bitesize advisory service here >>> aidhanfinancial.com/bitesize-advisory/
