The current UK VAT threshold is £85,000 (as of January 2024) and businesses need to keep a close eye on their rolling turnover figure in order to register for VAT when necessary.
Set up VAT support
Should you require to register for VAT then please simply contact us with the following details:
VAT registration date
VAT registration number
Drop us a message and we will configure your account for VAT.
Once enabled, new invoices will show the net price plus the VAT rate and amount.
Exemptions
Some classes can be exempt from VAT and reporting on the turnover can be tricky.
We have a help article that you might find useful in this regard.
Feel free to contact us if you have any questions.