VAT SERVICES

VAT Services – At TTG, we`ll act as your personal Vat accounting team. Our qualified VAT accountants will prepare and submit your VAT returns and reports on your behalf, all year round.

VAT (Value Added Tax) is a tax added to most products and services sold by VAT – registered businesses. Businesses have to register for VAT if their VAT taxable turnover is more than £85,000. They can also choose to register if their turnover is less than £85,000.

Businesses must submit VAT returns to HMRC on a monthly, quarterly, or annual basis. The return summarises all the revenue and expenditure Vat collected throughout the period and includes details on how your company charged and reclaimed VAT during that time. If charged amount is greater than the VAT spent during that period, you`ll pay the difference to HMRC, but if that VAT incurred is greater, HMRC will refund your business the difference.