Do I need to file a VAT return and how?

The threshold for VAT registration remains at £85,000 in 2019/20. If your annual turnover is above the threshold then you are required to file VAT returns.

If you are VAT registered then you must file your returns using the Making Tax Digital Service (MTD). You can sign up for this here: https://www.gov.uk/guidance/sign-up-for-making-tax-digital-for-vat

It is also important that you make sure that you file your VAT returns in time, we have a helpful timetable for when you need to file your VAT returns here.

If you are unsure of how to file your VAT return or would prefer to have someone else do it then make sure to get in contact! We will be happy to help!

Thinking VAT – Have you checked your turnover in the UK and do you know how to?

The sales turnover threshold at which a business would ordinarily be required to register for VAT in the UK has been £85,000 since 1st April 2018, only now changing to £90,000 from 1st April 2024.

What expenses can I claim for tax and how do I prove them

With different rules for Limited Companies and sole traders, flat rates for simplified accounting, cash accounting, accruals accounting and restrictions on property businesses depending on the type it’s not surprising that business owners get confused about what counts for an expense and what doesn’t in their particular business.

The Fishbourne Accountant is a brand name of The Fishbourne Accountant Ltd, a company registered in England and Wales.

Company no11697791

Registered office address
11 Barker Close Fishbourne West Sussex PO18 8BJ

Insured by Hiscox
Policy No. PL PSC1002349995/00
1 Great St Helens
London
EC3A 6HX
UK
0800 280 0351 9:00am – 5:30 pm Monday to Friday
claims@hiscox.co.uk
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Monica Jervis is licensed and regulated by AAT, licence number 6697.