Barbara Selkirk Qualified ACMA and ACIS Accountant offers IT expert proactive accountancy services to new or ongoing small businesses, sole traders, clubs and small limited companies.
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Purchase Day Book Sales Day Book Completion of VAT Return BSW Accounting Services Ballards Place Eardiston Tenbury Wells Worcs WR15 8JR info@bswservices.co.uk Tel : - 01584 814594			VAT Services – The Basics Value Added Tax (VAT) is a tax that's charged on most goods and services that VAT-registered businesses provide in the UK. It's also charged on goods and some services that are imported from countries outside the European Union (EU), and brought into the UK from other EU countries. BSW Accountancy Services can help you decide if you should you be registered for VAT. VAT is charged when a VAT-registered business sells to either another business or to a non-business customer. When VAT-registered businesses buy goods or services they can generally reclaim the VAT they've paid. There are three rates of VAT, depending on the goods or services the business provides. The rates are: Standard – 2009 15 percent, 2010 17.5%, 2011 20% Reduced – 2009 5 percent Zero – 2009 0 percent There are also some goods and services that are: Exempt from VAT Outside the UK system altogether When you must register for VAT If you're a business and the goods or services you provide count as what's known as 'taxable supplies' (see 'What is VAT charged on' below) you'll have to register for VAT if either: Your turnover for the previous 12 months has gone over a specific limit – called the ‘VAT threshold’ – for 2009 it is £68,000 You think your turnover will soon go over this limit You can choose to register for VAT if you want, even if you don't have to. BSW Accountancy Services can show you how to maintain your book-keeping tasks and complete your VAT return in Excel on your behalf or we can review your book-keeping and file the VAT return for you. We will advise you with regard to the different accounting options available. Should you be registered for VAT and how to register. Whether the accruals or cash accounting basis is the best option. Or quarterly or annual accounting suits the business and cash flow best.
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