Daily Archives: March 29, 2022


How does VAT work for small businesses?

Taxes can be daunting for anyone but when you are running your own business it is even more important to keep things in check because you could end up putting your livelihood at risk. Not only can you end up incurring financial penalties, but you can get yourself in some legal trouble if you do not pay the right taxes at the right time. An important tax for small business owners to be aware of is VAT or value-added tax. I am not yet at the stage where I have to pay tax but I do earn money being a blogger (find out how).