Small business VAT exemption scheme

If you are covered by the exemption scheme, you do not charge VAT as long as your turnover remains below €25,000 per calendar year.

Open Reports and select the VAT tab. At the top, a threshold bar shows your turnover for this calendar year against €25,000.
The bar is green below 80 per cent of the threshold, orange from 80 per cent and red if you exceed it.
If your turnover is approaching the threshold, speak to your accountant in good time. If you exceed it, you must start charging VAT and register with the VAT authorities.
If your business becomes liable for VAT, switch off the exemption under Settings > Business details. New documents will then include VAT; existing documents remain unchanged.

Example screen: Threshold bar for the VAT exemption scheme

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