Liza Casteller (MICB)’s Post

HMRC has introduced a digital tool to assist businesses in estimating the impact of VAT registration. 💻 The VAT Registration Estimator was created in response to feedback from small businesses, indicating that an online tool would be useful for determining when their turnover might necessitate VAT registration and how it could affect their profits. Find out more here: https://lnkd.in/gERdXwuF #DBF #DeesideBusinessForum #HMRC #VAT #VATregistration #Businesses

🧮HMRC launches VAT Registration Estimator: 🚀HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them. 📘Read more @MitchellsGrievson: https://buff.ly/4fENEs0 #HMRC #VAT #VATregistration

The VAT Registration Estimator is a digital VAT tool that HM Revenue and Customs (HMRC) has released to help businesses with their UK VAT registration requirements. The purpose of the tool is to provide businesses with more information regarding the VAT registration procedure and to assist them in understanding the possible implications of registering for the tax. Businesses who believe their turnover will reach the £90,000 VAT threshold within 30 days, have a cumulative VAT taxable turnover above £90,000, or are foreign businesses not located in the UK but selling products or services to the UK are required to register. The VAT Registration Estimator can be used for free at any time, and it usually takes 20 minutes to complete the first time. It doesn't offer tailored business guidance. For additional information about these digital tools, see our most recent blog post: https://lnkd.in/gC_87MiV #FZCO #FZCOVAT #UKVATRegistraion #VATCompliance #HMRC

HM Revenue and Customs (HMRC) has launched a digital tool to help businesses estimate what registering for VAT may mean for them. The VAT Registration Estimator has been developed after feedback from small businesses suggested an online tool would be helpful to show when their turnover could require businesses to register for VAT and its effect on profits. A business must register for VAT if: Their total VAT taxable turnover for the previous 12 months is more than £90,000 -known as the ‘VAT threshold’ - until 31 March 2024 this was £85,000. They expect their turnover to go over the £90,000 VAT threshold in the next 30 days. They are an overseas business not based in the UK and supply goods or services to the UK (or expect to in the next 30 days) – regardless of VAT taxable turnover. A VAT-registered business must charge VAT on eligible sales and can usually reclaim it on eligible purchases. There are around 300,000 new VAT registrations each year. More info on the Zyla Accountants blog: https://lnkd.in/gkkkWG99 #VAT #businessnews #zylaaccountants #HMRC

Is your business VAT compliant❓  Don’t let unexpected VAT issues disrupt your success. 💼 Our VAT Health Check ensures that all discrepancies are identified, keeping your operations smooth and free from costly penalties. ✅ Let us handle the complexities, so you can focus on growth! 🚀 🌐 Visit www.nufca.com to discover more! #LegalCompliance #Businesssolutions #VATCompliance #SecureYourFuture #BusinessImprovement #GrowthStrategies #securefinance #businessmanagement #uaebusinesses

🚀 HMRC Launches New VAT Registration Estimator Tool 🚀 Great news for small businesses! HM Revenue and Customs (HMRC) has just launched a new digital tool designed to help businesses estimate the impact of VAT registration on their operations. The VAT Registration Estimator is a response to feedback from small businesses who wanted a clearer understanding of when they might need to register for VAT and how it could affect their profits. Here’s what you need to know: A business must register for VAT if: Total VAT taxable turnover for the previous 12 months exceeds £90,000 (this threshold increased from £85,000 as of April 2024). They expect their turnover to exceed £90,000 in the next 30 days. They are an overseas business supplying goods or services to the UK, regardless of turnover. VAT registration means that businesses must charge VAT on eligible sales, but they can also reclaim VAT on eligible purchases. With around 300,000 new VAT registrations each year, this tool is a game-changer for businesses approaching the VAT threshold, those operating below it, or those considering voluntary registration. 🗓️ Mark your calendars: HMRC will host a live webinar on 14 August 2024 to explain how to use the tool effectively. Whether you’re nearing the threshold or just planning ahead, this tool could provide the clarity you need! #SmallBusiness #VAT #TaxPlanning #HMRC #DigitalTools #BusinessGrowth

Have you heard about the new HMRC VAT Registration Estimator? HM Revenue and Customs (HMRC) has launched a free digital tool designed to help businesses estimate the impact of VAT registration on their profits. This estimator, developed based on feedback from small businesses, helps you understand when your turnover might require VAT registration. In just 20 minutes, you can experiment with different inputs and outputs to see if VAT registration is right for you. Please note, it doesn't offer personalised advice. Find out more: https://lnkd.in/gHpEXPjj #BusinessTools #VATRegistration #BusinessGrowth #DigitalTools

HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them. The VAT Registration Estimator helps to show businesses when their turnover could require them to register for VAT and its effect on profits. A business must register for VAT if: 👉 Total VAT taxable turnover for the previous 12 months is more than £90,000. 👉 Turnover is expected to go over the £90,000 VAT threshold in the next 30 days. 👉 They are an overseas business not based in the UK and supply goods or services to the UK (or expect to in the next 30 days) – regardless of VAT taxable turnover. A VAT-registered business must charge VAT on eligible sales and can usually reclaim it on eligible purchases. We can help with VAT queries - contact us to get started. #vatregistration #vathelp #hmrc

📢 **Understanding the Latest VAT Compliance Updates with HMRC’s New GFC8 Guidelines** 📢 Are you up to date with the recent changes in VAT compliance? HMRC’s GFC8 guidelines are essential for businesses navigating VAT responsibilities. Our latest article breaks down what these changes mean, highlighting key areas where companies need to be vigilant to avoid compliance issues and potential penalties. Check out our expert insights and practical steps to keep your business aligned with HMRC’s evolving requirements. 🔗 Read more here: https://lnkd.in/e2KbqmBq) #VATCompliance #TaxUpdates #HMRC #GFC8 #BusinessFinance