VAT - or Value Added Tax - is a tax charged by VAT-registered businesses on the supply of most goods and services.
If you are or become VAT-registered, you must charge VAT where appropriate on the goods or service you sell. However, you can also reclaim any VAT you have paid when buying things for your business.
The thresholds for registering for VAT are outlined below.
|VAT registration||More than £85,000|
|Registration for distance selling into the UK||More than £70,000|
|Registration for bringing goods into the UK from the EU||More than £85,000|
|Deregistration threshold||Less than £83,000|
|Completing simplified EC Sales List||£106,500 or less and supplies to EU countries of £11,000 or less|
This guide, through a series of simple interactive learning tools will help you and your business understand how VAT works, how to meet your VAT obligations, VAT registration and how to calculate VAT.
Please note: the VAT learning tools show ways of working out VAT that HM Revenue & Customs recommends. VAT rates can change, but if they do the calculation methods remain the same.
Know your legal responsibilities
- Do you need a licence?
- Get the right business insurance
- Comply with the law when providing goods and services
- Know your customers' rights
- Distance and online selling rules
- Understand pricing legislation
- Buying goods from outside NI
- Selling goods outside NI
- GDPR compliance checklist
- Pay your business rates
- Understand staff contracts and your responsibilities
- Taking on contractors and subcontractors
- Health and safety basics for business
- Know your legal obligations on pensions
Understand tax and VAT
Sell and market your products or services