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VAT

Name: Makesworth Accountants
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Understand VAT registration, returns, schemes, rates and common compliance issues for UK businesses.

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More VAT insights

VAT

Self-serve Time to Pay for VAT

For some time, taxpayers within Self Assessment have been able to set up a Time to Pay arrangement online, allowing…

20 Sep 2023 Read article

VAT

Do we need to register for VAT?

If you make VATable supplies, you will need to register for VAT if your taxable turnover reaches the VAT registration…

21 Aug 2023 Read article

VAT

Beware the new VAT late submission penalties

A new penalty regime was introduced for VAT from 1 January 2023. The new regime comprises late submission penalties and…

27 Jun 2023 Read article

VAT

VAT penalties – New rules

The VAT default surcharge is being replaced with a new VAT penalty and interest regime. The new rules apply to…

24 Jan 2023 Read article

VAT

VAT bad debt relief

If you are a VAT-registered business you must charge VAT when you make taxable supplies. You must also pay over…

1 Dec 2022 Read article

VAT

Is it worth registering for VAT voluntarily?

You must register for VAT if your VAT taxable turnover for the last 12 months exceeded the VAT registration threshold…

14 Oct 2022 Read article

VAT

Managed lets – is VAT due on recharged expenses

If you use an agent to manage a let property, they may incur expenses, such as repairs and cleaning costs,…

10 Aug 2022 Read article

VAT

Pros and cons of the VAT flat rate scheme

The flat rate scheme offers VAT registered traders who meet the eligibility conditions a simpler way to work out the…

15 Jul 2022 Read article

VAT

Plastic packaging tax – who is liable?

Plastic packaging tax is a new tax that comes into effect from 1 April 2021. The tax has a green…

21 Apr 2022 Read article

VAT

Completing a VAT invoice – what entries are required?

When a customer purchases an item or service from a business an invoice confirming the amount to pay should be…

1 Mar 2022 Read article

VAT

VAT flat rate scheme – is it worthwhile?

The VAT is a simplified scheme that can save work. Instead of working out the VAT that you need to…

13 Jan 2022 Read article

VAT

New reduced rate of VAT for hospitality and leisure

The hospitality and leisure industry were particularly hard hit by the effects of the Covid-19 pandemic and associated lockdowns. To…

11 Nov 2021 Read article

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