VAT

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 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 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 VAT...
Thu, 24 Jun, 2021 at 3:31 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, 30 Nov, 2023 at 2:55 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
How to enable MTD VAT Submissions as a Partner
This guide explains how to enable MTD VAT submissions in Clear Books. To return to the legacy VAT return creation process please use this guide to disab...
Thu, 24 Nov, 2022 at 2:59 PM
MTD onboarding for Partners
This guide helps explain the MTD VAT onboarding process for agents in more detail. To begin the MTD VAT onboarding process, please see our guide on how to e...
Fri, 25 Nov, 2022 at 12:50 PM
MTD onboarding for SMEs
This guide helps explain the MTD VAT onboarding process for SMEs in more detail. To begin the MTD VAT onboarding process, please see our guide on how to ena...
Thu, 24 Nov, 2022 at 2:54 PM
MTD VAT Overview for Partners
Clear Books allows Partners to submit MTD VAT returns on behalf of their clients.  Outlined below are the steps you need to take to be able to submit MT...
Thu, 24 Nov, 2022 at 3:00 PM