Get registered for VAT and PAYE, from £24.99
If your business brings in more than £85,000 a year, you’ll need to register for VAT. Looking to hire staff? You’ll want to register as an employer for PAYE. We can help with both.
What you’ll get with our VAT and PAYE service
VAT (value-added tax) is added to most UK goods and services. VAT-registered companies charge VAT on anything they sell. And HMRC uses PAYE (pay as you earn) to collect employees’ income tax and National Insurance. If you want to grow your business, it’s worth registering for both to avoid falling foul of HMRC rules later on.
Peace of mind
Give your business room to grow by registering for VAT and PAYE from day one.
A professional edge
Legally, you only need to be VAT-registered if your business makes more than £85,000. So if you’re not, people might assume you don’t. Keep your finances to yourself by getting registered.
Got a tax query? Instead of turning to Google, give us a call – we’ll tell you what you need to know.
No pesky penalties
If you’re meant to be registered for PAYE or VAT but you’re not, you might have to pay a penalty. No new business needs that, so it’s best to register early on.
No Frills £8.99
The basic way to register a company with Companies House.
The Extras £19.99
See our company formation package designed especially for contractors
Tax Ready £34.99
Set up a company that’s ready to start trading.
Peace of Mind £99.99
The complete secretarial and compliance package to set up your company.
Frequently asked questions
Do I need to register for VAT?
If your company brings in more than £85,000 a year then yes, you do need to be VAT-registered. But even if you don’t think you’ll earn that much, it’s a good idea to do it anyway – that way if you do go over the threshold you’re already set up.
What happens if my business’s income is more than £85,000 and I’m not VAT-registered?
You’ll need to pay HMRC VAT from the date you should have registered. You might also have to pay a penalty, which will be a percentage of the amount of VAT you owe. Up to nine months late and it’s a 5 per cent penalty. More than nine and up to 18 months late and it goes up to 10 per cent. And if you’re more than 18 months late it’s 15 per cent. There’s a minimum penalty of £50.
Rest easy by making sure your company’s VAT-ready.
How does PAYE work?
PAYE is HMRC’s system for collecting income tax and National Insurance. So when you pay a salary to someone through payroll, you’ll need to deduct tax and National Insurance to pay to HMRC (the amount you take each time will depend on each individual employee’s tax code). To do this, you need an employer PAYE reference number.
PYou only need to register for PAYE if you pay any of your employees more than £116 a week. It doesn’t matter how many people you employ – you need to register even if you’re only employing yourself, for example as the only director of a limited company.