What is it?
Registering your company for VAT with HMRC allows you to reclaim VAT on purchases, however it also means you need to charge VAT on your services. You must register if your turnover exceeds £82,000, you can also register voluntarily if your business turnover is below that amount.
Why use it?
Get VAT back on all company purchases such as Rentadesk membership, laptops, mobiles etc.
How does it work?
- Register at https://online.hmrc.gov.uk/registration/newbusiness/what-to-do-next
- Create a Government Gateway account
- Enter your turnover, business type and bank details
- Registration should take 14 days
- Items bought before registration can be reclaimed: 4 years for goods, 6 months for services
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