VAT - a summary

We will highlight the essential VAT areas you need to consider when running your business. If you are started a business, Pact Accountancy helped to comply with VAT regulations.

VAT-registered businesses act as unpaid tax collectors and are required to take into account immediately and accurately all tax revenues collected from them. HMRC gives the VAT system enormous fines for violations of the law.   We highlighted some areas that you need to consider. However, you need to take professional advice suitable to your circumstances.