Understanding VAT: Practical Support for Growing Businesses

This workshop is designed to help small business owners gain a clear and practical understanding of VAT and how it can impact their business. Whether you are approaching the VAT registration threshold, considering voluntary registration, or already VAT registered and looking to improve your understanding, this session will provide straightforward guidance without the technical jargon.

The workshop will explore the fundamentals of VAT, common schemes available to small businesses, key compliance requirements, and practical considerations when making decisions about VAT registration and reporting.

Further aims are to simplify VAT terminology, explain common misconceptions, and help business owners feel more confident managing their VAT responsibilities whilst avoiding costly mistakes.

This session will help you to understand:
• How VAT works in practice
• When VAT registration becomes compulsory and when voluntary registration may be beneficial
• Different VAT schemes available to small businesses, including the Flat Rate Scheme and Cash Accounting Scheme
• Common VAT mistakes and how to avoid them
• How VAT affects pricing, profitability, cash flow and business decision-making
• What records need to be maintained and key compliance requirements, including Making Tax Digital (MTD).

By the end of the session, participants will be able to:
• Understand the fundamental principles of VAT and how it applies to their business activities.
• Identify when VAT registration may be required and recognise situations where voluntary registration may be advantageous.
• Understand the main VAT schemes available to small businesses and determine which options may be most appropriate for their circumstances.
• Recognise common VAT risks and errors and understand the steps required to remain compliant with HMRC requirements.
• Feel more confident managing VAT obligations and making informed decisions as their business grows.

The session will include presentation content to the whole group and small breakout sessions. Please use the opportunity to submit questions ahead of the workshop for the presenter to address during the session.

About the presenter
With over 26 years' experience in accounting and finance, Stacey Hallam, Founder and Owner of Hallam & Co Accountancy Limited, specialises in supporting business owners with VAT, tax planning, financial management and compliance, helping them understand their obligations whilst making informed decisions to support sustainable growth. She provides practical, jargon-free advice and helping clients navigate the financial challenges and opportunities that arise as businesses evolve and scale.

We encourage attendees to submit their questions in advance via email  bgevents@bizgateway.org.uk

For enquires, e-mail us on  bgevents@bizgateway.org.uk