Your VAT responsibilities after registration continue until the day you come out of the VAT system. As an unpaid tax collector for HMRC you must know your duties and responsibilities. The last thing I want is for you to end up on the naughty step with HMRC and run the risk of financial penalties and fines.
Relax I have got your back and this blog-video picks up from part 1 of the last blog-vlog. Previously the scene was set, framework and overview provided about VAT to set yourself on the right track
What’s covered in this week’s video Your responsibilities once you are VAT registered
Watch to see
- The different types of VAT supplies, essentially a different word for turnover
- The conditions for claiming VAT back
- The different boxes in your VAT return
- When to submit your VAT return
- Reverse charging, nothing to do with collect calls!
As an extra treat the video shows you
- The required content of your VAT invoice – customer and supplier
- A sample completed VAT return
- Numbers and illustrations
- An illustration with numbers to make it easier to understand.
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