Know whether to VAT or not to VAT

As of 31st December 2011, VAT registration ceased to be an option and became a legal obligation for businesses turning over £73,000 or more per year. Any business trading to this financial level was required to register for VAT by the close of last year. This requirement is now applicable on an on-going basis to any new or existing business. Whether they provide products or services to their customers, they must charge VAT and register for VAT payments to HMRC once they have tipped the specified turnover threshold. It can seem like yet more complicated and unwelcome red tape to business owners, but it does not have to be with the help of HR payroll professionals.

The fact of the matter is that many business owners become utterly bogged down by their dealings with HMRC. Try as they might, they lack the specific tax expertise that is necessary to ensure that they are doing everything as it should be done and remain compliant as rules and regulations evolve. Expert outsourced payroll companies help to take the taxing out of tax, by assisting with staff payments on a partially managed basis, or completely handling the entire process on behalf of clients. Their payroll services include the filing of annual tax returns to HMRC, correctly and on time.

Credible payroll companies remain completely on top of changing requirements. The businesses that rely on professional payroll solutions have the peace of mind that their service providers can advise them about becoming VAT registered, when they should register, and how they should go about registering.

At Moorepay, we provide outstanding HR payroll services to businesses classed as SMEs right up to multinationals. Our expert advice and practical help about VAT registration ensures that our clients should not rank amongst the 40,000 businesses expected to be investigated and financially penalised for failure to comply.