Monthly Archives: September 2021

How to choose the right VAT Scheme for your business

VAT is a standardised tax that most businesses and individuals must contribute towards. It stands for Value Added Tax, and as the name suggests, it’s collected any time value is added to a product or service. The VAT paid goes towards  Her Majesty’s Revenue & Customs (HMRC) when they sell or hire out goods or services. There are some exceptions, such as sales outside the UK. However, for many businesses, VAT applies to every sale.

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