VAT · 🇬🇧 United Kingdom
Output VAT
The VAT a business charges its customers on sales and must pay over to HMRC. The business pays HMRC the output VAT it collected minus the input VAT it can reclaim.
Related terms
← Back to the glossaryThe VAT a business charges its customers on sales and must pay over to HMRC. The business pays HMRC the output VAT it collected minus the input VAT it can reclaim.