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...
Thu, 24 Jun, 2021 at 3:31 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...
Thu, 24 Jun, 2021 at 3:32 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...
Thu, 24 Jun, 2021 at 3:32 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...
Thu, 24 Jun, 2021 at 3:32 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...
Thu, 24 Jun, 2021 at 3:32 PM
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...
Thu, 24 Jun, 2021 at 3:33 PM