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billygreenway
Dec 30, 2021 11:13 AM UTC
Solved

My Business is not VAT registered, how should I label sales in Quickbooks

My business is not registered and sells electronics on Amazon.  Should I label VAT on sales as being "20.0% S (Sales)" or should I label it as "No VAT (Sales)"?

 

Thanks for your help

GeorgiaCAnswer
Dec 30, 2021 12:02 PM UTC

Hi billygreenway, if the business is not VAT registered and VAT has been enabled in QuickBooks, you can default this to 'No VAT' so that you do not select a VAT code when entering transactions. To do this, select the Cog > Account & settings > Advanced > Accounting > Default tax rate selection > No VAT. 

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3 replies

GeorgiaCAnswer
Dec 30, 2021 12:02 PM UTC

Hi billygreenway, if the business is not VAT registered and VAT has been enabled in QuickBooks, you can default this to 'No VAT' so that you do not select a VAT code when entering transactions. To do this, select the Cog > Account & settings > Advanced > Accounting > Default tax rate selection > No VAT. 

    billygreenwayAuthor
    Dec 30, 2021 2:59 PM UTC

    Thanks v much!

     

    So just to confirm - if I'm not VAT registered I can put No VAT on every transaction?

    GeorgiaC
    Dec 30, 2021 3:58 PM UTC

    Thanks for getting back to me billygreenway, you can only charge VAT if your business is registered for VAT, typically, businesses who are not VAT registered would not activate VAT within QuickBooks - if you have any concerns or queries, please reach out to HMRC or your accountant for further advice. 🙏

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