Value added tax

Businesses are nearly always liable to charge value added tax to their clients. The rate is 6% or 19% depending on the type of product or service.  

The VAT which you receive from your client must be paid to the Inland Revenue. The VAT which you have paid out yourself to your suppliers can be offset against this.

Value added tax is paid either monthly or quarterly, depending on the type of business you have and the level of turnover.