At Hawsons we provide a range of VAT services. Over the past 12 months, we have registered companies, sole proprietors, and partnerships for VAT with HMRC. Using our expertise, we have advised clients whether to register for VAT voluntarily or if they are required to register due to their turnover.
VAT on services is a complicated area. VAT rates may or may not apply depending on who is providing or buying them, where they are provided and the precise nature of the services provided.
- VAT Registration – Compulsory or Voluntary
- VAT Health Check
- Consideration of special VAT schemes (Cash accounting, Flat-rate scheme & Annual accounting)
- VAT on property transactions and options to tax
- Partial exemption methods and calculation
- Investigations & disputes
Our VAT consultant Tony Nickson regularly updates our VAT news page with all the relevant VAT news that could affect you! Visit our VAT news page here.
When Do I Have to Register for VAT?
I’m not sure when I need to register for VAT, what help can you give me regarding thresholds?
You must register for VAT if your taxable turnover is more than £85,000. However, it may be in your interest to register for VAT if you do not reach this threshold. There are other limits/threshold to be aware of, so please contact Hawsons who will advise on all matters to do with VAT registration.
You must register within 30 days of your business turnover exceeding the threshold. If you register late, you must pay what you owe from when you should have registered.
What VAT Rates Are There?
What VAT rates do I need to pay? Can I be exempt from VAT?
Standard – 20%; Reduced – 5%; Zero – 0%. Some goods/services may be exempt from VAT or outside the scope of VAT. Here at Hawsons, we can help out clients with the VAT liability of their supplies.
Rates depend on conditions such as:
- who’s providing or buying the goods / services
- where they’re provided
- how they’re presented for sale
- the precise nature of the goods or services
- whether you obtain the necessary evidence
- whether you keep the right records
- whether they’re provided with other goods and services
My customer has not paid for a supply of goods, and I can't pay my VAT bill.
How can I claim Bad Debt Relief (BDR)?
If your customer has not paid for a supply of goods or services you may be able to claim BDR. Hawsons can help you meet the conditions for claiming BDR.
Bad Debt Relief (BDR)
Various records and evidence must be kept (for four years from the date of claim), in particular to identify:
- The time and nature of the supply, the purchaser, and the consideration
- The amount of VAT chargeable on the supply
- The accounting period when this VAT was accounted for and paid to HMRC
- Any payment received for the supply
- Entries in the refund for bad debts account
- The accounting period in which the claim is made.
Contact us for a free initial meeting
To find out more about how one of the leading firms of accountants in Sheffield, Doncaster and Northampton can help you, please contact one of our specialists. We believe in long-term client relationships and understand the importance of meeting to establish that you like us and we like you. This is why we offer all new clients a free initial meeting which will enable you to have a discussion about you and your business issues.
Tony Nickson, our VAT Consultant, was formerly a VAT Officer in Customs and Excise and then Higher Officer in HMRC.
After 20 years of working in the VAT office, Tony has gained a wealth of knowledge of VAT processes, including VAT visits to customers, client education, VAT repayments and error corrections.
Complete our form for a Free Initial Meeting
Benefits of working with Hawsons
Take time to get to know you, your business and your aims
Partner-led service tailored to your specific needs
Responsive and available when needed
Tax planning and advice
A one stop shop of specialist services available as needed
Efficient and effective use of technology
No unexpected bills
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