It may be that your business is exempt from VAT or has a mixed supply of services in terms of VAT and is therefore partially exempt. This means that quarterly de-minimis calculations and annual adjustments are required.
Establishing if your income is indeed exempt from VAT, if it is zero rated or even outside the scope of VAT can be a massive task if you are not familiar with the VAT rules.
At David Allen our team of VAT Specialists can help. We will advise what input VAT can be claimed on your quarterly returns and ensure that the annual adjustment is carried out correctly, making sure that you are claiming all of the input VAT that the business is entitled to.
Call our team today to learn more about how we can help you.