VAT Advice and VAT Planning in Kent
VAT is probably the one tax most overlooked by businesses. Too often we find that business owners fail to understand even the basics of VAT, what is taxable and what isn't. They may use the wrong VAT schemes, charge the wrong rates and worst of all miss opportunities to save VAT.
For small businesses VAT registrations may be missed. The current VAT limit for registration is £68,000 as from 1 May 2010. Many small businesses miss the opportunity to save money by not voluntarily registering particularly if their customers are mainly businesses.
Huge savings may also be available if a business uses the flat rate scheme.
Another big area for opportunities lies in land and property.
Please contact us if you have any concerns with regards to VAT and missed opportunities!