If you’re planning to file your VAT and to claim your returns, you can either use different accounting software or an accountant or agent hired by your company to accomplish this task. However, you’ll need to get these accountants authorized before they can submit your VAT return. You can complete the authorization process with the help of your online account or else by contacting the VAT helpdesk tea.
The infographic “VAT (Value Added Tax) registration: Things To Know” is a summarized set of information regarding all your VAT queries and for any specific query not answer in the infographic a direct contact number of VAT helpline is also mentioned. Once you’ve setup your online VAT account, from the very first and effective date of registration, you must: charge the right amount of VAT to your consumers, pay any due VAT amount to HMRC, submit VAT returns and keep VAT records & a VAT account.
VAT charges can be added on various products & services which include: Business sales, Commission, Non Sales like bartering, part-exchange and gifts, business goods used for personal reasons, selling business assets, hiring or loaning goods to someone and even items sold to your staff. Most of the businesses can register VAT via online or else can get the guidelines from the dedicated VAT support Team.