Tools to help your business. Value added tax Registered businesses charge Value Added Tax (VAT) on their sales. This is known as output VAT and the sales are referred to as outputs.Similarly VAT is charged on most goods and services purchased by the business. This is known as input VAT.There are three rates: standard which applies to most goods and services, reduced rate for some goods and services such as home energy and zero rate goods and services, for example, most food and children's clothes.Some supplies are exempt from VAT for example postage stamps, financial and insurance transactions.A business is required to register for VAT if the value of taxable supplies exceeds the annual registration limit.RatesStandard: 20%Reduced: 5%LimitsAnnual Registration Limit (1.4.24 to 31.3.25): £90,000 (£85,000)Annual Deregistration Limit (1.4.24 to 31.3.25): £88,000 (£83,000) Can you claim R&D Tax relief? At DMA, we have a track record of helping clients with all R & D tax issues. We can advise you precisely on what does/does not qualify for tax relief under R&D activities and under which R&D scheme. Life’s too short to be searching for stuff… Fortunately, DMA’s App means that you don’t have to. Get ALL your financial and tax information in one place and at all times – plus a great financial news feed! Register With Us Get better and faster communication and a whole range of free tools. Track your mileage, upload bills directly – and get technology that’s as on-the-move as you are. Demystifying Digital Tax We’ll show you how to use Making Tax Digital to your commercial advantage by streamlining your business processes. Making Tax Digital can be an opportunity to save time and money!
