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Posted Tue, 25 Apr 2023 16:04:16 GMT by
As a self-employed, I provide consulting services, 95% of which are rendered outside the United Kingdom. My annual turnover exceeds £85,000 per year. While filling out the Self Assessment form, I encountered the following message: "INFORMATION: As your turnover is above the VAT threshold, a detailed breakdown of your total expenses is required here." How to report my income on the Self Assessment in order to prevent any inadvertent registration for VAT payments?
Posted Wed, 03 May 2023 10:40:06 GMT by HMRC Admin 25
Hi MattSvej,

By reaching the £85,000 limit you are at the VAT threshold and are required to register.
However, depending on your type of business there might not be any VAT to actually pay.
VAT rates on different goods and services
For the tax return, by reaching this level, you need to give a detailed breakdown of your expenses as they cannot be lumped together as one sum under other allowable expenses.

Thank you. 

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