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  • What Is VAT in UK?: VAT Stand For Value Added Tax

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    Abdur Rehman
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    VAT stands for Value Added Tax in the UK. There are two types of VAT - main stream VAT and flat scheme VAT. Main stream VAT has a rate of 20% and a registration threshold of £85,000 per year, above which businesses must register for VAT. Flat scheme VAT has a lower rate of 7.5% but a higher registration threshold of £230,000 per year. The document recommends registering for main stream VAT from the first day of selling, as it allows businesses to claim back VAT paid and is more beneficial overall.

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    What is VAT

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    VAT stands for Value Added Tax in the UK. There are two types of VAT - main stream VAT and flat scheme VAT. Main stream VAT has a rate of 20% and a registration threshold of £85,000 per year, above which businesses must register for VAT. Flat scheme VAT has a lower rate of 7.5% but a higher registration threshold of £230,000 per year. The document recommends registering for main stream VAT from the first day of selling, as it allows businesses to claim back VAT paid and is more beneficial overall.

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    14 views8 pages

    What Is VAT in UK?: VAT Stand For Value Added Tax

    Uploaded by

    Abdur Rehman
    VAT stands for Value Added Tax in the UK. There are two types of VAT - main stream VAT and flat scheme VAT. Main stream VAT has a rate of 20% and a registration threshold of £85,000 per year, above which businesses must register for VAT. Flat scheme VAT has a lower rate of 7.5% but a higher registration threshold of £230,000 per year. The document recommends registering for main stream VAT from the first day of selling, as it allows businesses to claim back VAT paid and is more beneficial overall.

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    © All Rights Reserved
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    Flag for inappropriate content
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    of 8

    What is VAT in UK?

    VAT stand for Value Added Tax.


    On How much Selling Vat is Applicable

     Accordingto HMRC (Her Majesty’s Revenue


    and Customs)The Threshold value for Vat is
    85000 pounds per anum,
    Why Vat Registration is Important

     When you are VAT Registered and you start selling on


    Amazon, Amazon give you the facility of Auto Invoicing free
    of charge but when you are not registered than you have to pay
    Extra charges on it.
    Types of VAT

     There are two types of VAT


     1) Mains Stream VAT.
     2) Flat Scheme VAT .
    Flat Schme VAT

     IT is 7.5%
     The threshold value of this VAT is 230,000 Pounds
    per anum
     We will not liable to claim back this .
    Main Stream VAT

     IT is 20%
     The threshold value of this VAT is 85000 Pounds
    per anum
     We will liable to claim back this .
    Conclusion

     In my point of view we always register our self in


    Main stream VAT from the Ist Day of Selling as it
    is more beneficial for US.
    Move Forward With Full Confidence.

    Muhammad Tahir
    VA Batch vi
    Mentor Sir Sajjad Naseer.

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