The VAT concept of business
The VAT system is policed by HMRC and there can be heavy penalties for breaches of the legislation. There are four conditions that must...
16 Apr
Value Added Tax
Category Archives: Value Added Tax
10 Apr
Value Added Tax
VAT Fuel Scale Charges
The new VAT road fuel scale charges have been published. The changes amend the VAT scale charges for taxing private use of road...
26 Mar
Value Added Tax
Making Tax Digital for VAT
The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes using Making Tax Digital (MTD),...
Value Added Tax
VAT grouping
There are special VAT rules that allow two or more corporate bodies to be treated as a single taxable person for VAT purposes...
20 Mar
Value Added Tax
Changes to VAT IT systems if no-deal Brexit
In a letter being sent to businesses across the country, HMRC has published the following information on the effect a no-deal Brexit would...
14 Mar
Value Added Tax
Treatment of deposits for VAT purposes
As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when the deposit is...
06 Mar
Value Added Tax
Last chance to get ready for VAT filing changes 1 April 2019
The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on or after 1...
27 Feb
Value Added Tax
Correcting errors on VAT returns
Where an error on a VAT return is discovered, VAT registered businesses have a duty to correct the error as soon as possible....
27 Feb
Value Added Tax
Claim EU VAT refunds before Brexit
The VAT paid in other EU countries is often recoverable by VAT- registered businesses in the UK, who bought goods or services for...
20 Feb
Value Added Tax
Joint ventures and VAT
A joint venture is a commercial enterprise undertaken by two or more parties who otherwise retain their own separate identities. The parties to...