Value Added Tax (VAT) is a tax charge on the sale of goods and services. The VAT is also called “Goods and Services Tax” or GST in some countries such as Singapore, Australia, Malaysia, New Zealand and so on.
The VAT registration with HM Revenue and Custom is compulsory once your company’s annual sales have reached the current registration threshold.
You may also register for VAT on voluntary basis even though the value of your company sales is below the threshold amount if you feel this will benefit your business. |