VAT Services

UK VAT service FZCO Accountants

Our VAT service will support your business in any VAT number relate issues throughout the European Union law. We will keep your VAT documents at safe place up to five years. FZCO Accountants is an international specialising in VAT service provider. 

Our basic services involve to obtain a tax compliance in EU member states. We can verify invoices, claiming VAT on mileage and transactions, submitting returns, intrastat declarations, submitting VAT refund applications. We can fiscal represent at foreign tax offices. 

How much is the UK VAT threshold?

The VAT threshold is the amount of money that your business can earn before you need to register for VAT. Businesses only have to pay VAT once their annual turnover exceeds the VAT threshold.

When you’re registered for VAT, your business must:

  • Charge VAT on all goods and services sold to customers
  • Pay VAT on stock and merchandise that you buy for your business
  • Open a VAT account and keep a record of VAT
  • Submit VAT returns to HMRC

You must register for Value Added Tax if your taxable turnover exceeds £85,000. Taxable turnover is defined as all turnover generated by sales that are not VAT exempt. Even turnover on which the VAT rate is zero is classed as taxable turnover. Standard rate VAT in the UK is charged at 20%, and the reduced rate is 5%.

If a business has turnover of above the threshold then they must contact HMRC and register for VAT.

What happens once I meet the VAT threshold?

If your taxable turnover crosses the current VAT threshold. You have 30 days to inform HMRC and register for VAT.

Once your company has completed its VAT registration, your business will be responsible for:

  • Charging VAT on the goods and services you sell to customers
  • Paying VAT on the goods or services you buy for your business
  • Submitting VAT Returns to HMRC
  • Keeping VAT records and a VAT account

Who cannot register their business for VAT?

Starting a business entity cannot register for VAT certificate. It does not meet the definition of a business state to HMRC (please see the website for more information).  A business is also prohibit from registering. If the business tends to sell goods or services that are exempt from VAT registration number (i.e. insurance, education).

What is distance selling?

Distance selling occurs when a VAT registered business in one EU country supplies and delivers goods to a customer in another EU country. Who isn’t register for VAT. You are distance selling into the UK if:

  • You’re outside the UK but in another EU country
  • You sell goods to customers in the UK who aren’t VAT registered
  • You deliver the goods or arrange for their delivery

Customers who aren’t VAT registered include:

  • Private individuals
  • Some small businesses
  • Businesses that can’t register for VAT because their activities are exempt
  • Public bodies
  • Charities

Distance selling only involves goods, not services. When a business registered for VAT in one EU country sells and delivers goods to someone in another EU country who isn’t, and doesn’t have to be, registered for VAT.

Organisation face a complex taxes legislation matters, on a daily basis. Indeed, VAT rules consist of different layers. European Directives and regulations, local VAT law, national and European case law, administrative guidelines and notices, parliamentary questions, local practices, etc. We can assist your business by VAT compliance check. We also will prepare and submitting VAT return on time.