Get trading and tax registered quickly for £34.99 with our Tax Ready formations
Get set up for tax with VAT and PAYE. It’s all you need to start paying and being paid.
What do you get?
Perfect for people who want to be ready to trade right away. With PAYE you can start paying staff, including yourself. And with VAT, you show others you’re serious, so you can do business with even the biggest companies.
First confirmation statement
A central London address
Expertise for your application
It’s just £99.99
Frequently asked questions
It stands for Pay As You Earn, and it’s a way of collecting employees’ income tax and national insurance contributions. Employers work out how much tax their employees should pay, and then take it out of their monthly salaries and send it to HMRC. Your company has to register for PAYE if it has any employees (including you) who are paid more than £115 a week.
Do I have to register for VAT?
If your company’s turnover is more than £85,000 a year, or you expect it to be, then you need to register for VAT. Once you’ve registered, you can ask to de-register if your turnover falls below £83,000 a year. Should you register? Read our answer to the next question.
What does VAT mean for my business?
It means a bit more hassle, but people take you more seriously (sort of like a nice suit, in some industries). If you register for VAT, then you have to charge it on anything your company sells, but you can also claim it back on most things the company buys. Then, every three months, you give HMRC the VAT you’ve charged minus the VAT you’ve paid. To do that, you need to keep records, and fill in a VAT return for HMRC.
Despite the extra admin, a lot of companies choose to register for VAT even if they don’t have to. That’s because some companies won’t deal with suppliers who aren’t VAT-registered. And not charging VAT tells everyone that your earnings are low. So being VAT-registered is a way of showing people that your business is serious. Also, smaller companies can make the admin simpler by choosing to pay a flat rate of VAT. You can also make it simpler by getting us to help you with it.