VAT accounting is one of those issues that effect almost every commercial enterprise in one form or the other. It provides a lot of new business owners with sleepless nights. However, it can be easy to understand and simple to apply if you get the proper explanation of the basics. Here is an article which I consider to be a good introduction for anyone struggling to understand where they stand with the issue of VAT:
Value Added Tax guide for limited companies – Company Bug
http://www.companybug.com/ Tue, 23 Jun 2015 19:21:58 -0700
The current standard rate is 20%. If your business becomes VAT-registered, you will charge VAT on all invoices you submit to your clients. Limited company VAT guide. Each quarter, you work out how much VAT you have …