Value added tax (VAT) also known in other countries as Goods and Services tax (GST), is added to goods and services when sold

A business must register for VAT once the sales exceed £85000 (unless everything you sell is exempt) in any given twelve-month period and not per financial year, or you can make a voluntary registration even before hitting this threshold if you feel it suits your business.

Value added tax is one of the most complex and onerous tax regimes imposed on a business, so complex that many businesses inadvertently overpay or underpay their VAT liabilities.

From April 2019, all companies with sales exceeding £85,000 must comply with new Making Tax Digital (MTD) regulations, more of which can be found here.

Numbers2Knowledge is MTD-complaint and can handle all your VAT needs.