VAT

Getting registered for VAT

• What is Value Added Tax (VAT), and why do I need to know about it?
• Do I have to register for VAT?
• Once my turnover reaches the £85k VAT threshold, how long do I have to register?
• How do I register for VAT?
• Should I delay registering until I hit the VAT threshold?
• If I’m a B2B company, should I register for VAT before I have to?

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Choosing a VAT scheme

• What VAT scheme should I be on?
• What’s the flat-rate scheme – and why should I be on it?
• How should I adjust my prices once my business is VAT registered?
• How do I change VAT scheme?

Filing your VAT return

• How do I complete a VAT return?
• What documentation do I need when claiming back VAT?
• Help! I've made a mistake on my VAT return – what do I do?
• How do I set up Direct Debits to pay my VAT bill?
• Can I claim VAT on costs I incurred pre-registration?
• Can I claim back VAT on business expenses?

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Accounting for VAT

• What’s the best way to account for my VAT: invoice or cash accounting?
• What are the different VAT categories – and when do they apply?
• What should be on a VAT invoice?
• Why is the VAT balance on the balance sheet different to my VAT return?
• What's best for my business: quarterly vs monthly VAT periods?
• How do I change my VAT periods?

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VAT for EU sales

• How do I deal with VAT when I trade in Europe?
• What’s the reverse charge – and how does it affect transactions outside the UK?
• How do I raise a sales invoice for an EU customer?
• How do I record an EU purchase?
• Do I need to submit an EU Sales List to HMRC?