VAT Return

The current threshold for registering for VAT is a turnover of £85,000 (current in Feb 2021) and reporting is usually quarterly. With the introduction of MTD most businesses now need to report using this method and our software can is able to do this.
In some businesses it makes more sense to report monthly or to register voluntarily as your situation may benefit from this.
Don’t forget, the threshold is assessed on turnover, not profit and you its based on a rolling 12 month assessment period, not determined by your year end or the tax year end.