Do I need to register my company for VAT?

Yes, if your company turnover exceeds the VAT threshold of £90,000.  If the turnover is below the threshold, it can still be beneficial for some businesses to register for VAT. You can learn more over on the gov.uk website.

1. A Standing Order is a type of scheduled payment that repeats – always for the same amount, on a regular basis you choose, for example, weekly or monthly.

2. A Future-Dated Payment is one that you set to go once, on a date in the future. You can schedule one-off payments up to one year in advance. 

How do I schedule a payment from my Tide account?

You can set them to weekly, monthly, or once on a date in the future.

To schedule a payment in the app:

1. Tap: Accounts > Send > Make a Payment > select a Payee or Pay someone new.

2. Enter the amount and a reference for the payment, and toggle on Schedule this payment.

3. Choose the frequency and the first date of the payment, then authorise it with Confirm.

To stop an upcoming Scheduled Payment, tap: 

1. Tap Accounts > Send > Upcoming Payments.

2. Select the payment you’d like to stop.

3.  Then tap: Cancel Scheduled Payment > Confirm.

On Tide on the web:

You can set and manage these payments by going to: Account management > Scheduled payments.

How much do scheduled payments cost?

There’s no fee to set up a Scheduled Payment, but the payment itself counts as a transfer, and is charged at the normal rate of 20p per Faster Payment. If you’re a Tide Smart, Pro or Max member, Scheduled Payments are included in your monthly free transfer allowance. 

Limitations and cancellations:

• If a Scheduled Payment fails 6 times in a row, it’ll be considered ‘not needed’, and we’ll cancel it automatically. If you need to, you can set it up again at any time.

• Your usual account limits apply to Scheduled Payments. See your account limits in the app by tapping Accounts > Details > Account Limits. If you need to transfer more than your limit allows, tap the Support icon in the top-right corner of your app to request a limit increase.

• As a security measure, we may limit how much you can send to a newly added payee within the first 3 hours.

• Recurring payments are only processed on business days.