Reporting VAT

Reporting VAT

Value Added Tax (VAT) is a tax on the supply of goods and services. Most goods and services attract VAT at the standard rate set by the Government, which is currently 20 per cent. However, some goods and services attract different VAT rates. For example, most foodstuffs are charged at zero per cent. For a full explanation of what VAT rate to use, consult your local VAT Business Advice Centre or your accountant.

This section explains how you can use your AccountEdge software to complete your VAT Return for HM Revenue & Customs.

If your company is involved in intra-EC trade, as defined by HM Revenue & Customs, you need to account separately for these intra-EC transactions in your returns to HM Revenue & Customs. See EC sales and EC purchases.

In this section

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Setting up VAT codes

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