It is a process of listing the company with the government as an active company in the field of production and sales. Once a company registered for VAT, it can reclaim VAT paid on the purchase. Besides, it will be responsible for:
• Paying VAT due to HM Revenue and Customs.
• Charging VAT on company’s product and services.
• Filing VAT returns and more.
After registration, the companies in the UK will get a VAT registration certificate. It shows:
• The VAT number of your company (which should be included in invoices).
• Time to submit VAT Return.
• The effective date of registration.
A company having a yearly turnover of EURO 85,000 and more is compulsory to register for VAT. Remember that you are not allowed to charge VAT if you have not received the VAT number. However, you will have to pay the VAY to HMRC. Our experts can help you in the process of VAT registration. Give us a call now.
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