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VAT rates in Xero

Xero has standard UK VAT rates pre-set. You can add your own rates as necessary if the default rates do not meet your needs, or edit the default rates - pay particular attention to the 'Tax type' as this determines how these rates are reported.

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How to... do a year end in Xero

There are a few things that you should typically do at the end of your financial year. Whether you do some or all of them, or invite your accountant or bookkeeper into Xero to do them for you, here's a simple year-end process.

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