Value added tax

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.

Rates

Standard: 20%

Reduced: 5%

Limits

Annual Registration Limit (1.4.23 to 31.3.24): £85,000

Annual Deregistration Limit (1.4.23 to 31.3.24): £83,000

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Company registered in England & Wales, number 06137832
The ICAEW audit registration number for Honey Barrett (Audit) Ltd is C005419803.
VAT No. 725 2398 29


The firm’s professional indemnity insurers are Accelerant Insurance Europe SA is a company registered in Belgium (Company number 0758.632.842) with registered office at Bastion Tower, Level 20, Place du Champ de Mars 5, 1050 Brussels.
Accelerant Insurance Europe SA is an insurance company authorised by the National Bank of Belgium and regulated by the Financial Services and Markets Authority (FSMA) (Ref. 3193).

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The Registered office is: Honey Barrett Limited, 53 Gildredge Road, Eastbourne, East Sussex BN21 4SF

Honey Barrett Limited, 53 Gildredge Road, Eastbourne, East Sussex BN21 4SF
Bexhill Office : 48 St Leonards Road, Bexhill-on-Sea, East Sussex TN40 1JB
Wadhurst Office : Pharmacy Chambers, High Street, Wadhurst, East Sussex TN5 6AP