Скачать с ютуб What Is VAT And How Does It Work| |VAT UK |exemption from VAT| в хорошем качестве

What Is VAT And How Does It Work| |VAT UK |exemption from VAT|

Value-Added Tax Value-Added Tax (VAT) is a tax, which is payable on sales of goods or services within the territory of the Member States of the EU. The tax, in all cases, is ultimately payable by the final consumer of the good or service. Who pays VAT buyer or seller? VAT (Value added tax) is an administrative headache for a lot of people. It's charged by businesses on goods or services at the point of sale, and as it's a consumption tax, it's paid by the end customer, rather than the company selling the goods. How do I know if I need to pay VAT? You must remember that you need to register for VAT if your VAT taxable turnover in ANY consecutive 12-month period reaches the registration limit – it is not just the level of VAT taxable turnover in your 12-month accounting period that you need to check. Where does the money from VAT go? VAT is a tax on domestic consumption. Goods exported from the country are therefore exempt, which is why tourists can reclaim the VAT on goods they take home. As Tony says it goes into the general fund along with income tax and other general taxes and duties. What happens if you do not pay VAT? What happens if I do not submit my return or pay my VAT bill on time? If HMRC do not receive your VAT return by the deadline, or if you fail to make full payment of the VAT due, you will be automatically issued with a default on your account and you may then enter what is known as a 'surcharge period'. Can HMRC check your bank account? HMRC has a shared service to check bank account details are correct. Other government departments and local authorities could collect your bank details from you, then check them with our shared service. How does VAT get paid back? Repayments are usually made within 30 days of HMRC getting your VAT Return. Your repayment will go direct to your bank account if HMRC has your bank details. Otherwise HMRC will send you a cheque (also known as a 'payable order'). You can change the details that HMRC uses to make your repayment. Do limited companies pay VAT? Limited companies that are registered for VAT must charge VAT on their goods and services, and they can reclaim any VAT that they have paid on their purchases. VAT is typically included in the price of goods and services, and businesses must file regular returns with HMRC detailing the VAT they have collected and paid. Do sole traders pay VAT? VAT for sole traders with more than one business If you're a sole trader, then there is no legal separation between you and your business. So, if you have multiple sole trader businesses, take all of your business income into account for VAT. Do I need to pay VAT as a small business? You'll need to submit VAT returns to HMRC four times per year and you'll need to account for VAT on taxable income regardless of who the client is. If your turnover exceeds the VAT threshold, there's no decision to be made – you're legally required to register for VAT. #amazon #privatelabel #vat #vatuk #hmrc #soletrader #virtualassistant #wholesalemarket #ukvat #amazonseller #valueaddedtax #salestax #amazonusa #amazonproducts #amazonfinds #virtual #privatelabeling