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VAT
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VAT
VAT: the basics This guide aims to explain the basics of how VAT works, what you need to do to meet your obligations, and where you can go to get more information and advice.
How much VAT should you charge? This guide sets out the different rates of VAT and directs you to an online calculator to simplify working out VAT. It tells you which goods and services are exempt and which are outside the scope of VAT.
Set up records and invoice correctly for VAT Once your business is VAT registered you will need to obtain, issue and keep various documents - including receipts and suppliers' invoices. This guide will help you to set up basic VAT records and lay out your VAT invoices correctly. It also tells you where you can go to get more information and advice.
Choose the right VAT scheme for your business Accounting for VAT in the standard way can be time-consuming and costly for some businesses. However, there are alternative VAT accounting schemes that might suit you better. This guide will help you decide which of these schemes may be right for your business, whether you are eligible, how to apply and where you can go to get more information and advice.

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