Category: Tax

Wrapping Your Head Around VAT

November 6, 2017 Karl Bilby Bookkeeping Advice, Tax 0 Comments

As a UK business, you must register for paying VAT if your ‘VAT taxable turnover’ is more than £85,000. For many small businesses, that sounds like a large sum. In fact, if you’re in a sales-based business, as many are, it’s really not so large in practice.

In reality, that’s actually ‘only’ around £1635 per week in sales – quite conceivable, if not now, then as your business grows.

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