VAT is a tax on consumer expenditure. It is collected on business transactions, imports and acquisitions. Most business transactions involve supplies of goods or services. VAT is payable if they are:

• supplies made in the United Kingdom (UK) or the Isle of Man
• by a taxable person
• in the course of a business
• are not specifically exempted or zero-rated.

Once a company's annual sales revenue reaches the 68,000 pound threshold ( current threshold), it is required to register with HM Customs and Excise for Value Added Tax (VAT). The HMCE requirement is for a company to register for VAT if it expects the total sales revenue for the year to equal or go beyond the threshold amount. PAG team will help you to register your business for VAT.