VAT

While VAT creates additional paperwork, it can also reduce your costs by allowing you to reclaim the VAT you pay on your business purchases. Many businesses have no choice but to register for VAT once their sales reach £85,000 a year.

You need to understand whether you can or should register for VAT, and what you must do as a VAT-registered business, especially if you fall within the requirements of the HMRC "Making Tax Digital" initiative. You may be able to simplify your VAT requirements by using an appropriate VAT accounting scheme.

Registered users only

This resource is for registered users only. Please sign in here if you are already registered, or register with us for free.

Better directors for a better world

The IoD supports directors and business leaders across the UK and beyond to learn, network and build successful, responsible businesses.

Extending your financial knowhow

Browse valuable finance and tax resources from the IoD.
Internet Explorer
Your web browser is out of date and is not supported by the IoD website. It is important to update your browser for increased security and a better web experience.