How would you describe VAT? Complicated? Frustrating? Confusing?
James Sherbourne, Critchleys Head of VAT, gives us a beginners overview ideal for business owners getting to grips with VAT.
- what VAT is
- why biscuits are subject to VAT (and cakes aren't), and why it matters if your Cornish pasty is hot or cold...
- When to start paying VAT (and why some businesses start paying VAT early)
In this episode, we also talk about how cloud accounting systems like Xero make the calculating and payment of VAT easier. Find out more in our podcast "5 reasons to move your accounts to the cloud"