VAT Registration for Exhibition services
VAT or Value-added tax is a consumption tax. At purchase time certain percent of sales is collected. Then the amount is given to the government’s taxation authority which is the Majesty’s Revenue and Customs. If an exhibition services company is established then the company must apply for VAT.
VAT is nothing but a tax which is added to all services and goods. VAT is levied on business-to-business transactions and also at retail level transaction. There are 3 levels of VAT levied. They are standard rate, reduced rate and zero rate. The consumer goods are taxed at 20%.
If one supply taxable stuffs or even exhibition services then it’s require to apply for VAT. To apply for VAT one must a sole proprietor, an exhibition services company, a club or any other type of organization like conference or exhibition.
HRMC states can register for VAT. A business is distinct as an entity that is paid for service providers or goods. If one has an exhibition service which brings a small amount then it is not required to register under VAT. For VAT registration exhibition services companies has to submit application to the HRMC and wait to get it approved. The best option is to apply online.