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info1255
August 29, 2020
Question

Which tax code shouuld I apply if my business doesn't pay VAT? Is it 20% if the business I match with (Facebook for example) pays VAT, or no vat because I dont?

  • August 29, 2020
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

Rejeil_O
Rejeil_O
August 29, 2020

Hi there, @info1255.

 

If you are not VAT registered, please do not turn on the VAT center. So that QuickBooks will not calculate and submit VAT to HMRC. However, if you already turned it on, the only way you can proceed is to use the NO VAT tax code.

 

You can read this article as your reference for NO VAT tax code: Common VAT Codes.

 

You may also use this article that helps you keep accurate records of your tax that you collect and pay: VAT: Getting Started.

 

If you have additional questions, feel free to leave a message in the comment section. I'll be happier to help. Take care, and have a great day.

B
bmarcum
August 29, 2020

Not sure why you directed your response to me.  I did not ask this question.  

Angelyn_T
Angelyn_T
August 29, 2020

Hello, @bmarcum.

 

The response provided by Rejeil_O above is the answer to the concern of info1255. You don't need to worry, I'll inform my colleague about this so he can update the name correctly.

 

As always, feel free to open the topics from our help articles as your guide while working with QuickBooks.

 

Our doors are always open here on the Community page, @bmarcum. Feel free to add a post or comment below if you have any QuickBooks questions in the future. Happy weekend and keep safe always!

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