Our in-depth knowledge of VAT means you can rely on us for solutions tailored to your business.
VAT can be complex, from knowing when to register, to understanding what you can claim back, to staying compliant with HMRC. Whether you’re a start-up exploring voluntary registration, or a growing business navigating international transactions, our team is here to support you at every stage.
Our VAT specialists work closely with you to review your processes, identify opportunities for savings, and ensure your returns are accurate and submitted on time.
How we can help
- VAT Registration
- Construction, land and property transactions
- HMRC enquiries
- Imports, Exports and providing services to overseas customers
- VAT on sales
Friendly, Impartial, Informed
At bk plus, we’re more than just advisors; we’re your partners in financial strategy. Our approach is to immerse ourselves in the nuances of your business, ensuring we understand your objectives, challenges, and opportunities. As an extension of your team, we provide unbiased, expert advice, empowering you to make informed financial decisions that drive your business forward.
FAQs
Do you have any questions about VAT? You may be able to find the answer to your question by looking at some of our frequently asked questions below…
Most income from goods or services is subject to 20% VAT if you’re VAT registered. However, some income may be zero-rated or exempt. Charities should check if funding is a grant or payment for services. Don’t overlook income from property, management charges, scrap sales, or barter transactions. If you’re not yet registered, monitor your turnover against the VAT threshold.
VAT is due based on the “tax point,” usually when goods are delivered or services completed. Invoices or payments made earlier can trigger the tax point. Deposits also create tax points. You can delay it by 14 days by issuing a VAT invoice. Smaller businesses may benefit from the Cash Accounting Scheme. Bad debt relief is available where applicable.
Cross-border VAT depends on who you’re selling to and what you’re selling. For goods, UK sales to EU businesses can be zero-rated, with proof of export required. Services are generally VAT-free if sold to overseas businesses, but rules vary for land-related or event-based services. Be aware of local VAT registration obligations if you’re installing or delivering from other countries.
You can reclaim VAT on purchases made for taxable business use, supported by valid VAT invoices. VAT on private or exempt activities is generally not recoverable. Special rules apply to cars, entertainment, and fuel. Mixed-use costs must be apportioned. Unpaid invoices over six months may require you to repay reclaimed VAT.
Ensure timely and accurate VAT returns under Making Tax Digital. Even sole traders should document their process. Consider schemes like:
Cash Accounting – pay VAT only when paid by customers
Annual Accounting – file once a year with payments on account
Flat Rate Scheme – simplified reporting using fixed rates
Retail Schemes – sector-specific simplifications
