DIY Accounting Advanced accounting package is for self employed small business that are VAT REGISTERED.

No Entries required – fully automated quarterly vat returns ready for transferring figures direct to the Vat return. The Vat return shown below is the actual vat spreadsheet that is fully automated within the financial accounting software enabling the potential vat liability to be viewed at any time during the vat quarter.

Protect the sales and purchase excel spreadsheets after completion and you have a complete audit trail if inspected

The vat threshold at which small businesses must seek a vat registration usually changes in the budget each March.

In 2007-08 the vat threshold was £64,000 p.a. for the financial year starting 6 April 2008 the vat threshold for small businesses was increased to £67,000 p.a. and further to 68,000 with effect from 1 May 2009. When turnover reaches the vat threshold register for vat unless this sales turnover has been exceptional and not likely to be repeated on an ongoing basis.

Sole traders should note the legal position regarding vat that under the customs rules any business whose sales exceed the vat threshold, currently £68,000 p.a., are liable to pay vat at the standard vat rate on their sales turnover whether they register with HM Revenue & Customs for vat or not.

Value Added Tax (VAT)

Further guidance is available from the HM Revenue & Customs website vat portal at:

HMCE have a number of schemes available to make calculating and paying vat easier details of which can be found at:Choose the right VAT scheme for your business

HM Revenue & Custom Information and Guides

Use the categories below to browse HMCE VAT publications which include introductory guides on key topic areas, detailed guidance from Public Notices as well as information sheets and business briefings. If you cannot see exactly what you are looking for, try searching for all VAT publications in the HMCE Library.

Introduction to VAT This is a summary of the most common VAT issues and a good place to start finding out how it affects you and your business.

Managing your VAT Includes guidance on setting up and keeping VAT records, details of common errors made, and help if you have payment problems. Information on Motor Trade issues is also available.

Registering for VAT Registering for VAT is compulsory for some companies and voluntary for others. Find out how your business fits the bill and how to get registered.

Special Schemes & Options HMCE have a range of special schemes and options to simplify VAT for small businesses. See if you qualify for a flat rate scheme or would prefer to spread your payments over fixed, monthly instalments.

VAT & International Trade There are import rules and procedures for dealing with VAT on international trade. See this section for relevant material.

"Self employed accounting package for vat registered business with a range of automated options including flat rate schemes and quarterly vat returns"