What are your VAT responsibilities when your business becomes VAT registered? Do you know what they are when your business becomes VAT registered?
You take on responsibilities as an unpaid tax collector working for HMRC. If you do not comply with these responsibilities, then it's likely you will be relegated to HMRC's naughty step. Above all fines and penalties are likely to follow. We don't want that !.
In this week's podcast, we'll cover basics of your VAT duties so you stay out of trouble!
In this week's I hate numbers podcast, I am going to talk about
The different types of VAT supplies, for supplies think turnover
I will discuss the conditions that need to be met to claim back any VAT
Reverse charging, and I do not mean collect calls
Finally, I will cover how to complete a VAT return and when it should be submitted.
If you want a simple explanation of all things related to UK Value Added Tax (VAT), or business and finance then you are spoilt for choice! I have my weekly podcast, videos and blogs.
Moreover, if you want to understand your VAT responsibilities, avoid confusion and overwhelm , I am here to help. In fact, many businesses find themselves in the same situation, wanting to know what their VAT responsibilities are, and how to avoid getting into VAT hot water!. This podcast on An Introduction to what VAT is will help.
My mission is to inform, inspire and educate you to get closer to your numbers. You can make more profits, save tax and time, improve your well-being and your money mindset.
Help me to help you and others by subscribing and sharing this episode in your network. . Listen now and subscribe to I Hate Numbers, so I can send it straight to your inbox every week with all the latest updates.