VAT Schemes

How to set up a VAT scheme
Depending on your business's eligibility, you would have to set up the relevant VAT scheme in Clear Books for HMRC tax purposes (if applicable). The VA...
Mon, 30 Mar, 2020 at 4:01 PM
How to switch from VAT cash accounting to VAT invoice accounting
Clear Books deals with switching from VAT cash accounting to VAT invoice accounting smartly. If you switch midway through a quarter you have the option of d...
Tue, 25 Feb, 2020 at 11:36 AM
The VAT Margin Scheme
We do not have official support for the VAT Margin scheme, however, it is possible to use this scheme while on a standard VAT scheme in Clear Books. The exa...
Fri, 21 Feb, 2020 at 12:23 PM
How to set up a custom tax scheme
For businesses operating outside the UK, you would set up a Customer GST VAT scheme in order to customise your Sales Tax rates. Step 1. Navigate to Set...
Fri, 14 Feb, 2020 at 1:13 PM
How to work out flat rate for a limited cost business
You are classed as a ‘limited cost business’ if your goods cost less than either:  2% of your turnover £1,000 a year (if your costs are more than 2%) T...
Fri, 21 Feb, 2020 at 12:17 PM
How capital expenditure goods are treated on the Flat Rate Scheme
If a bill has been coded to a fixed asset account and has a value over £2000 including VAT, the system will include this on your next VAT return in box 4 an...
Fri, 14 Feb, 2020 at 1:13 PM
Accounting for payments to HMRC for VAT
How VAT is treated in Clear Books On an invoice accounting VAT scheme, VAT on sales and purchases credit or debit the VAT control account. On a cash...
Mon, 17 Feb, 2020 at 2:41 PM
VAT Exceptions Report
In Clear Books, transactions are locked to a VAT return once a return is saved as a draft. The VAT exceptions report will only show those transactions that ...
Thu, 20 Feb, 2020 at 12:18 PM