Understand VAT registration, returns, schemes, rates and common compliance issues for UK businesses.
VAT-registered businesses that use invoice accounting generally account for VAT when invoices are issued and received. HMRC has recently published…
If a VAT-registered business has taxable income only (including zero-rated sales), it is entitled to full input tax recovery on…
As outlined before the election, the new Government is to go ahead with its proposal to impose VAT on school…
Despite the improving economy, bad debts are still a fact of life for many businesses. HMRC is aware that not…
The VAT flat rate scheme is simple for smaller VAT-registered businesses. Rather than pay the difference between the VAT charged…
Although suppliers such as mobile phone providers are VAT registered, a careful look at the invoices issued to customers shows…
VAT applies to taxable supplies made by a VAT-registered person, whether an individual or a company. VAT-exempt supplies in the…
If you are registered for VAT, you will need to keep normal business records. The records must be complete, up…
The VAT registration threshold rose from £85,000 to £90,000 from 1 April 2024. The deregistration threshold increased from £83,000 to…
VAT can be confusing at the best of times, with the reverse charge being arguably one of the more complex…
Earlier in the year, it was erroneously reported in the press that new tax rules were coming into force which…
Most business owners know that VAT registration is a legal requirement should total taxable turnover for the previous 12 months…
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