December 2016
Beginner
464 pages
11h 10m
English
Content preview from The Financial Times Guide to Business Start Up 2017/18, 30th Edition
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Chapter 29
VAT
One subject that is guaranteed to raise ire among small businesses is VAT. Essentially, the VAT system is operated by businesses acting as tax collectors for the government. As far as you the business person is concerned, you pay tax when you buy goods from someone else and charge the tax when you sell them on. Broadly speaking, you hand over to HM Revenue & Customs (HMRC)* the difference between the amount of tax you charge your customers and the amount of tax you have paid your suppliers.
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.