VAT REGISTRATION AND VAT RETURNS
VAT REGISTRATION & RETURNS
You will need a VAT number and an online VAT account to file your VAT returns in the UK. You can submit your VAT Return through HMRC’s online service. These returns can also be submitted through approved commercial accounting software. However, due to the non-availability of complete relevant information, and the fact that some people feel that they do not receive the correct tax refund because of this incomplete information, it is advisable to hire a professional accountant to file VAT on your behalf.
The UK is no longer a tax haven. Rather, the system has been designed to help simplify the taxation of people who live in the country, sending out an electronic VAT form online every year to be filled by the concerned individuals / companies. This form contains all the details regarding the person's financial status, which enables the authorities to get information of any changes to the person's financial position. Furthermore, the system allows the authorities to collect accurate data that they can use to assess the person's liabilities or assets. So you MUST be very careful when filing VAT returns.