VAT

Setting up VAT

• How to change the default VAT return period length
• Waiting for your VAT registration number
• The VAT Flat Rate Scheme (FRS)
• How to claim VAT back on purchases made before you were VAT-registered
• How to enter your initial VAT settings in FreeAgent

Editing VAT figures and settings

• How to post the journal entries required after you de-register your business for VAT
• How to apply the reduced VAT rate to purchases and sales
• How to adjust boxes 6 and 7 of your VAT return
• Updating your VAT settings when you de-register your business for VAT
• How to change your VAT Flat Rate Scheme details mid-quarter
• How to change a contact's VAT setting

Your VAT return

• What happens when I mark my VAT return as filed?
• File your VAT return online through FreeAgent
• Checking, editing and locking a VAT return
• How to make corrections in a VAT locked period
• How to export or print your VAT return in FreeAgent

VAT outside the UK

• How to record sales and purchase transactions with businesses based outside the UK from 1st January 2021
• How FreeAgent handles VAT MOSS
• How does FreeAgent handle the reverse charge?

EC Sales List (ESL)

• How to create an EC Sales List (ESL)
• How to enable an EC Sales List (ESL)
• How to record bank transactions for sales and purchases to or from the EU dated on or before 31st December 2020