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Tag: Businesses And Charging VAT


Businesses And Charging VAT

Things To Know About Businesses And Charging VAT How VAT works

An individual can only charge VAT if his/her business is registered for VAT. VAT is charged on things like the following: Business sales- for example selling goods and services Selling business assets Hiring or loaning goods to someone Commission Business goods used for personal reasons Items sold to staff such as canteen meals ‘non-sales’ such as bartering, part-exchange and gifts These are known as ‘taxable...

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