Tag Archives: vat

How do I register for VAT?

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VAT can feel a little confusing at first. Is it voluntary? Mandatory? What do you need to do? You can voluntarily register your business for VAT at any point from day one of setting up a business. However, you are required to register for VAT when your turnover reaches the VAT registration threshold (currently £85,000 […]

What is the Domestic Reverse Charge and how does it affect my construction business?

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You may have already heard about the Domestic VAT Reverse Charge that came into effect from 1st March 2021. This is a change in the way contractors and subcontractors in the construction industry will account for VAT, specifically aimed at VAT registered businesses working under the Construction Industry Scheme.  These changes can often feel complicated […]