What is VAT in the UK?

VAT in the UK is a complex subject that most small business owners struggle to understand. If you don't get a handle on it your business can be crippled when you suddently need to increase all your prices by 20%. In this video I'm giving you a very brief overview of what VAT is and how it works in the UK. If you want to drill in to this in more detail I'd suggest reading the Government's own guidance as it's very well written: https://www.gov.uk/vat-businesses

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