VAT Scheme to register for.

JazzyJem
JazzyJem Registered Posts: 1 New contributor 🐸
A client of ours who owns a construciton business now needs to register for VAT as they are over the treshold of £85K. However, we did not know this until we received the paperwork as the client has a habit of supplying their paperwork late.
I presume we will have to work out when they went over the threashold and go back and get the client to reissue the relevent invoices. The question is: what scheme would be best for them to be registered on as there is not much vat to claim on overheads as most of the subcontractors are not vat registered. Other overheads do not have much vat to claim either. Please advise.

Comments

  • AndrewLeyland
    AndrewLeyland Registered Posts: 38 Regular contributor ⭐
    Does the Construction Business deal with CIS? If so Doing a monthly VAT return on a flat scheme would be best but this be based on your client's needs. Here is a link to the government website to talk to your that should help with your client making a decision
    https://www.gov.uk/how-vat-works/vat-schemes
    RegardsCiaran Andrew Leyland
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