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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5028
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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If my company is VAT registered and have a turnover in excess

Resolved Question:

If my company is VAT registered and have a turnover in excess of the £82,000 annual threshold, however all of my sales are zero rated, eg. fresh meat, do I have to pay VAT on my turnover?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Although your turnover is in excess of the £82,000 annual threshold you only pay VAT on standard rated and reduced rated supplies. NO VAT on zero-rated turnover.You will find information on this link here helpfulhttps://www.gov.uk/vat-businesses/vat-ratesI hope this ishelpful and answers your question. If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
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Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes.
Customer: replied 2 years ago.

Thank you very much, this makes a big difference, when I am operating at a 21% margin

Expert:  taxadvisor.uk replied 2 years ago.
Your reward of a bonus is greatly appreciated.

Best wishes.