A beginner's guide: Reasons To
Hire A VAT Consultant For
Your Business
INTRODUCTION
• At first glance, VAT looks like one more aspect of your business
that adds to your administrative tedium. As a small business
owner, you want your business to have the most tax efficient way
V and VAT is a common area where business owners are lost.
• With each new law introduced, the need to understand and
comply with it becomes a necessity. VAT is a law where you need
a clear understanding of how to run your business smoothly. There
are many VAT consultant available in the market, which will help
you process your paperwork in lieu of advisory fees. In this article,
we will take a look at the importance of a VAT advisor and the
need to understand this law.
WHAT IS VAT?
• Value Added Tax is a tax added
to most goods and services which
provide by the companies. It is
levied on goods and services and is
an ad valorem tax, which is
proportional to the value of the
supply it makes.
• All VAT rated goods and services
are known as “taxable supplies”. It
must be charged on taxable
supplies since when business was
registered. Its value is called as
“taxable turnover”.
WHAT ARE THE BENEFITS OF REGISTERING
VAT?
The standard rate of VAT will apply to most goods and
services sold. If you have a small business, here are list of
benefits for being VAT registered.
You get a VAT registration number
You can claim VAT refunds
You can improve your business image
YOU GET A VAT REGISTRATION NUMBER
This may not be like too exciting, through displaying
your VAT registration number on documents and
website ,you can benefit for your business. This will
add more creditability to business and also give
honourable and professional image.
YOU CAN CLAIM VAT REFUNDS
After registered it once, you can reclaim for VAT on all
goods and services for business. It must be balanced
between what business is charging and receiving all
payments all over the year. If you have invested on
equipment, IT or machinery ,you are able to reclaim
large amount of VAT.
YOU CAN IMPROVE YOUR BUSINESS IMAGE
 If you have a small business, most of people are
aware of threshold VAT, this is the another
benefits of a being a VAT registered. After that ,
you can appear to your customers that you are
bigger than actually by displaying VAT number.
 It can also help you while dealing with other
business. Normally, some of business prefer it , if
you can raise a VAT invoice.
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