Frampton & Co Chartered Accountants | VAT Services


VAT stands for Value Added Tax, which is a tax that businesses must charge on most goods and services they sell in the UK. VAT is also charged on some goods and services that are imported from outside the UK. The standard rate of VAT is 20%, but some items are charged at a reduced rate of 5% or a zero rate of 0%. Some items are exempt from VAT or outside the scope of VAT.

Businesses that have a turnover of more than £85,000 in a 12-month period must register for VAT with HMRC and charge VAT on their sales. They must also pay VAT on their purchases and expenses. Businesses that have a turnover below this threshold can choose to register for VAT voluntarily if they wish to do so. Businesses that are registered for VAT must keep accurate and complete records of their sales and purchases, and submit VAT returns to HMRC every month, quarter, or year, depending on their chosen accounting scheme. They must also pay any VAT due to HMRC by the deadline, or claim any VAT refund if they have paid more VAT than they have charged.

Frampton Bexhill Accountants Bookkeeper

How we can help with your VAT Obligations


VAT Services

  • Preparing and submitting your company’s VAT returns to HMRC on time and accurately, and pay or reclaim any VAT due.
  • Assisting your company in deciding whether to register for VAT voluntarily or not, and which VAT scheme to use.
  • Recording the company’s sales and purchases, ensuring that the correct VAT rate is applied to each transaction.
  • Assisting with VAT on imports and exports, especially after Brexit.
  • Ensuring your company is in compliance with Making Tax Digital, which requires digital records and online filing of VAT returns.
  • Handling any communication or correspondence with HMRC regarding VAT matters, and resolving any queries or issues that may arise.
  • Providing expert guidance and support on various VAT topics, such as exemptions, reliefs, invoices, records, and more
  • Assist in the company finance plan and budget for its VAT costs, and optimise its cash flow and profitability.
  • Additional Services

    Tap on one of our additional services below to see the full range of our specialist areas.