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Meeting the complex VAT rules and law can tax the most diligent business. Law and practice changes from time to time and it is important that businesses keep abreast of these issues.
Actionvat.com can provide the necessary guidance on the law affecting any business and highlight any risk areas. Should HM Revenue & Customs wish to carry out a visit at a client, advice and attendance can be provided.
Some basic information
VAT registration threshold from 1 Apr 2006: £61,000 (previously £60,000 from 1 April 2005);
VAT intrastat threshold from 1 Jan 2006: £225,000 (previously £225,000 from 1 Jan 2005);
8th Directive refund claim year is 1 Jan to 31 Dec;
13th Directive refund claim year is 1 Jul to 30 Jun;
VAT standard rate: 17.5%;
VAT reduced rate: 5%.
For smaller businesses
Cash accounting scheme;
Annual accounting scheme;
Flat rate scheme.
For all businesses
Web based returns and direct debit - gives an additional 10 days for payment of tax;
Claim bad debt relief at the correct time.
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Our Services
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