Once you’ve toggled on I am VAT registered under VAT settings in the Online Bank, and completed your VAT profile, you can record VAT on transactions that have either an Income or Expense spending category assigned to them. In the Online bank, simply click on one of these transactions either in the transaction feed or the bookkeeping tab. This will open a side panel. In this side panel, click on the module that says VAT. Here you will be able to select the VAT rate or add a custom VAT amount.

You will also be able to add other VAT treatments, such as if you supplied/purchased goods outside of the UK/EU or need to claim for recoverable capital goods. These options will depend on which VAT scheme you have selected in your settings. If you’re from Northern Ireland, different options will be available due to remaining in the customs union post-Brexit.