VAT can be a confusing subject. Learn more about how to manage VAT efficiently in your business, from monitoring turnover and registration, to recording transactions, sending VAT invoices, and MTD reporting requirements.
If you’re a business owner, paying VAT on goods and services is all too familiar. The good news is that registering for VAT means you may be able to reclaim some of the VAT you pay (after all, it adds up)! We’ll look at who can reclaim VAT, how it works and whether you need…
Most of us pay VAT daily, whether it’s for a specific service or purchasing our favourite savoury snacks. It stands for ‘value-added-tax’ and is a consumption tax that’s charged on a product during each point of a sale where value has been added. As a business, registering for VAT is mandatory if your taxable turnover…
The rate of VAT that must be charged varies depending on what goods or services are being supplied. Most items are subject to the standard rate of VAT but there are other categories, including those which are zero rated or even exempt from VAT altogether. In this article we go over what it means to…
Managing VAT can seem a bit scary, but keeping accurate records doesn’t have to be the stuff of nightmares. Whether you’re new to VAT registration or just looking to make your process a bit more streamlined, we’ve put together this guide to help. We’ll walk you through everything you need to know about keeping records…
Registering for VAT is a fairly straightforward process, and there aren’t any registration fees or charges to worry about. We’ll go over who needs to become VAT registered, and how to sign up. When does a business need to register for VAT? Not all businesses need to register for VAT. An odd way to…
