How To Pay VAT in the UK

How to pay VAT in the UK.
In this video I speak about how to pay VAT in the UK. I also go through the basics of VAT so you have more of an understanding on how VAT works for your business.

Useful Links:
Register for VAT: https://www.gov.uk/vat-registration/h...
VAT rates for goods - including exempt, zero rates, outside scope and reduced rate: https://www.gov.uk/guidance/rates-of-...
HMRC VAT bank details: https://www.gov.uk/pay-vat/bank-details
Surcharge table: https://www.gov.uk/vat-returns/surcha...



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#VAT #businessvat #vathmrc


Timestamps:
00:00 Introduction of the topic
00:20 CTA and introduction of self
00:40 What is VAT?
02:06 When do you have to register online HMRC for VAT?
4:02 Conditions whether to pay VAT or to get a refund from HMRC.
05:04 Things that businesses does not have to charge VAT?
05:38 What are the things that are considered Outside of Scope for VAT purposes?
05:55 The three VAT rates in the UK
07:28 What are the things that are necessary in order to comply with the VAT requirements?
08:13 Some examples of goods and services that cannot be included in the VAT returns.
09:48 Mid CTA
10:22 Time schedules required to submit VAT returns and pay VAT to HMRC.
12:12 What are the payment options available to HMRC?
15:14 What happens if your return is late or your payment is late or do not make payments?
18:27 Ending CTA and Closing