PAYE and VAT registrations
We’re not just all about company formations. We can get you set up for PAYE and VAT
and get more of your business administration completed at the outset - all for a
value for money price where you just have to fill out straightforward forms. The
rest is completed by qualified accountants.
All you need to do is add the service to your basket, check out and then we send
you a form to fill in. Send that back to us and then we do the work; you’ve also
ticked off another important part of set up administration. Provided you do it correctly,
this will be a tax deductible expense - so you effectively pay only 80% of the listed
price once tax is taken into account.
We’ve put everything in a summary below but you can also scroll down for further
information on each service.
PAYE
PAYE (Pay As You Earn) is the system that HM Revenue & Customs (HMRC) uses to collect
Income Tax and National Insurance contributions (NICs) from employees' pay as they
earn it. The term 'employee' in this guide includes directors of limited companies.
As an employer, you'll have to deduct tax and NICs from your employees' pay each
pay period and pay Employer's Class 1 NICs if they earn above a certain threshold.
You pay these amounts to HMRC monthly or quarterly. After the end of the tax year
you must send HMRC an Employer Annual Return (form P35 and forms P14). Almost all
employers are required to file this online.
As an employer you have a legal obligation to operate PAYE on the payments you make
to your employees if their earnings reach the National Insurance Lower Earnings Limit
(LEL). For the tax year 2011-12 this is £102 a week, £442 a month or £5,304 a year.
We can kickstart the process for you and get you registered with HMRC for PAYE. You
just fill one simple form. And we do the rest.
The procedure is as follows:
1. Add this to your basket and check out. ADD TO BASKET
2. Fill out the PAYE set up form that appears on the checkout page. We can also e-mail
this to you separately.
We then get you set up with HMRC and they will then send you a welcome pack to take
it from there.
If you then need your payroll calculating and administering then we offer both services
through our accountancy businesses - click here our current prices (this takes you
to the Colledge & Co, Chartered Accountants website)
VAT Registration
Value Added Tax (VAT) is a tax that's charged on most goods and services that VAT-registered
businesses provide in the UK. It's also charged on goods and some services that are
imported from countries outside the European Union (EU), and brought into the UK
from other EU countries.
VAT is charged when a VAT-registered business sells to either another business or
to a non-business customer.
If you're a business and the goods or services you provide count as what's known
as 'taxable supplies' (see 'What is VAT charged on' below) you'll have to register
for VAT if either:
your turnover for the previous 12 months has gone over a specific limit - called
the 'VAT threshold' (currently £73,000)
you think your turnover will soon go over this limit
You can choose to register for VAT if you want, even if you don't have to. Sometimes
it is wise to do this, especially if you are selling solely to VAT registered businesses,
as you appear more professional and potentially a bigger business than you (currently)
are - so you can get set for bigger work straight away. Also it may just be a personal
choice to set up as much as you can at the outset so you are not fiddling around
with registrations and administration at a later date (for example writing to all
of your customers to tell them you have registered for VAT, changing your invoices,
changing your accounting software etc)
Sometimes it can be financially beneficial to you too if you then successfully apply
for Flat Rate Scheme VAT (see below for this).
We can take some of the administrative burden away from you and get you registered
for VAT. All you need to do is fill out one form and we do the rest.
The procedure is as follows
1. Add this to your basket and check out. ADD TO BASKET
2. Fill out the VAT Registration form that appears on the checkout page. We can also
e-mail this to you separately.
We then get you set up with HMRC and they will then send your VAT certificate.
If you then need your VAT calculating, filing and administering then we offer these
services through our accountancy businesses. We are more than happy to give you a
value for money quote for our premium service.
VAT Flat Rate Registration
If your VAT taxable turnover is less than £150,000, you could simplify your VAT accounting
by calculating your VAT payments as a percentage of your total VAT-inclusive turnover.
This percentage depends on your industry/sector.
If you register for the Flat Rate Scheme in your first year of VAT registration,
you can take advantage of a one per cent reduction in your flat rate percentage.
Many businesses take advantage of this scheme as it can save your business a great
deal of money. You’ll still charge VAT at the normal rates (for standard VAT this
is 20%) but you pay over a lesser rate to HMRC.. Please be aware that it isn’t always
an advantage so please do your calculations and acquaint yourself with how it works
before you join with the Scheme. You can, of course, leave the Scheme at any time.
You can also apply to join the Flat Rate Scheme at the same time that you register
your business for VAT - so you can start to make potential savings immediately.
We can take some of the administrative burden away from you and get you registered
for VAT. All you need to do is fill out one form and we do the rest.
The procedure is as follows
1. Add this to your basket and check out. ADD TO BASKET
2. Fill out the VAT Registration form that appears on the checkout page. We can also
e-mail this to you separately.
We then get you set up with HMRC and they will then send your VAT certificate.
If you then need your VAT calculating, filing and administering then we offer these
services through our accountancy businesses. We are more than happy to give you a
value for money quote for our premium service.
Get your business registered for PAYE with HMRC so you can take on and pay your employees
Get your business registered for VAT by completing one simple form and sending it
to us - we’ll then do the rest for you. We’ll even set you up online.
Get your business registered on the Flat Rate VAT Scheme. You can cut down on administration
and may be able to reduce your VAT liability and payments.
