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VAT For Businesses - Explained In 60 Seconds - A UK Business Owners Guide

Understanding VAT for businesses is essential if you want to avoid falling foul of the regulations surrounding it. Put simply, you have to charge VAT if your annual turnover is above £85,000, but it’s illegal to charge VAT if you’re not VAT registered. The standard rate of VAT is 20% and this must be added to all eligible products and ...

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