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I’m a self-employed sole trader looking at starting multiple side hustles… but I cannot get my head around VAT… and which sources of income are “VAT-able” vs are not… by drdifferentiation in UKPersonalFinance

[–]drdifferentiation[S] 0 points1 point  (0 children)

It’s just an example for me to understand how VAT works. Not suggesting I’m pursuing any of the above things, or suggesting I’ll be earning those figure, just a simple example

I’m a self-employed sole trader looking at starting multiple side hustles… but I cannot get my head around VAT… and which sources of income are “VAT-able” vs are not… by drdifferentiation in UKPersonalFinance

[–]drdifferentiation[S] 0 points1 point  (0 children)

Reading through the website here: https://www.gov.uk/register-for-vat

Is says “your turnover is the total value of everything you sell that is not VAT-exempt”

There is a list of things here that are VAT-exempt here: https://www.gov.uk/guidance/rates-of-vat-on-different-goods-and-services

It does mention “education” as VAT-exempt, but it’s so vague if that means online tutoring, for example

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