VAT settings

The VAT settings section, allows you to edit your company's VAT details. 

You can navigate to it by clicking  then 'VAT Settings' 

Warning

Updating some information, such as the year end can have consequences to the accounts and VAT Returns so it is best to speak with your accountant first in order to establish whether this change is appropriate.

What can be updated? 

Effective Date is the date the business became registered for VAT

VAT Number is the VAT number of the business

First VAT Return End Date is the date of your businesses first VAT Return period end 

VAT Accounting Basis is the number of shares in the limited company

Flat Rate Percentage  is the full percentage that you have been registered on, under the flat rate scheme, without any discounts.