It is also possible for your business to claim VAT relief on expenses, in a similar way to claiming tax relief. This helps to keep your VAT liability to a minimum.
At AJN Accountants we work hard to ensure that your business pays the least VAT possible and adheres to all necessary deadlines.
A VAT registered business:
- Must charge VAT on all products and services
- Can claim back VAT on some expenses
- Is responsible to file a VAT return every quarter, by the deadline
- Needs to pay across the VAT balance every quarter, by the deadline