United Kingdom: VAT
Applies to businesses whose country is the United Kingdom.
What is set up for you
Section titled “What is set up for you”- Currency GBP (£), tax name VAT, default rate 20%, tax-inclusive pricing (turn it off under Settings → Tax Settings if you quote net prices).
- Your VAT registration number goes in Settings → Business Profile → Tax ID.
Rates to add
Section titled “Rates to add”Under Settings → Tax Settings, add Reduced (5%) and Zero (0%) rates if you sell reduced- or zero-rated goods, so each line carries the right rate and the return separates them.
Reverse charge
Section titled “Reverse charge”Use Reverse charge on purchases of services from abroad and on domestic reverse-charge supplies (for example construction services under the domestic reverse charge). The tax appears on both sides of the return.
VAT return
Section titled “VAT return”Reports → Tax Report gives output VAT, input VAT and the net amount for the period — the boxes you transfer to your VAT return. See Tax report and tax summary.