Benefits of VAT

If you register for VAT there are a number of benefits you can take advantage of such as:

• You can reclaim any VAT paid on business expenses 
• You can claim back VAT on purchases that you have made from other VAT registered businesses 
• You can charge VAT to your customers/clients which can potentially help you increase your revenue 
• Sometimes when your VAT registered it can make you seem more professional to customers as it will give them the impression that you’re a trustworthy and reputable brand. 

It’s important to note that when working within the pet care or pet service industry, it’s possible that certain expenses could be exempt from VAT,  such as food products or medicines, so, it’s important to keep track of which expenses are VATable so that you can reclaim as much VAT as possible. Take a look at VAT rates of different goods and services here.