How To Pay Your Business VAT

How do I pay my business' VAT?

As soon as your business looks as though it is going to earn £60,000 or more in the next tax year, it is your job to notify the Her Majestys Customs and Excise department, and they will then verify that you are a legitimate business, do the paperwork, give you a number, and so on. From then on, they'll be asking you every quarter, How much have you earned this quarter?, and they'll then be saying, Okay, that figure, plus the 17.5%, is the figure that you owe us for the quarter.