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Telephone: 020 8458 7244| Email: info@zanepartnership.co.uk
Registered businesses charge Value Added Tax (VAT) on their sales. This is known as output VAT and the sales are referred to as outputs.
Similarly VAT is charged on most goods and services purchased by the business. This is known as input VAT.
There are three rates: standard which applies to most goods and services, reduced rate for some goods and services such as home energy and zero rate goods and services, for example, most food and children's clothes.
Some supplies are exempt from VAT for example postage stamps, financial and insurance transactions.
A business is required to register for VAT if the value of taxable supplies exceeds the annual registration limit.
Standard: 20%
Reduced: 5%
Annual Registration Limit (1.4.25 to 31.3.26): £90,000
Annual Deregistration Limit (1.4.25 to 31.3.26): £88,000
23 May 2025
Experts have warned that recent higher than anticipated government borrowing figures have increased the prospect of Chancellor Rachel Reeves raising taxes at the next Budget.
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“ As a self employed builder, The Zane Partnership have been doing my accounts for over 20 years. I have found them helpful, efficient and friendly and would not hesitate to recommend their services. ”
“ We have been with Raj for a number of years and have always been satisfied with him and his team. He is very approachable and professional . He has also been very accommodating in meeting us at a time convenient for us within reason. Would definitely recommend him. ”
“ Raj has been my accountant since 2000. He is helpful, sincere and provides excellent financial and business advice. I heartily recommend his services. ”
“ The Zane Partnership has been our accountants for over 20 years. Raj is a remarkable person, highly professional in his work and has vast experience in taxation. I would unhesitatingly recommend him. ”
“ The Zane Partnership have been our accountants for almost two years. I have found Mr Raj Banga and his team exceptional. ”
“ A gentleman and thoroughly professional accountant, I would not hesitate to recommend Raj to friends and colleagues. ”
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