Value Added Tax (VAT) is a tax on consumer expenditure that is levied on business transactions, imports and acquisitions. VAT is administered by HM Revenue & Customs (HMRC).
This topic contains advice on how to manage VAT and meet the associated compliance requirements.
Register for VAT promptly when turnover exceeds the registration threshold.
If turnover is below the registration threshold for past supplies, consider whether voluntary registration would be beneficial.
Ensure VAT invoices are issued when making taxable supplies to a VAT-registered recipient and that they contain all the required information.
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