What records must a VAT trader keep?
There are distinct rules that VAT registered businesses must follow when keeping VAT records. This includes keeping proper business and…
Understand VAT registration, returns, schemes, rates and common compliance issues for UK businesses.
There are distinct rules that VAT registered businesses must follow when keeping VAT records. This includes keeping proper business and…
A Margin Scheme is an optional method of accounting which allows certain businesses to calculate VAT based on the 'value'…
Most VAT registered businesses with a turnover above the VAT threshold need to be ready to keep digital records for…
The VAT Flat Rate Scheme (FRS) has been designed to simplify the way a business accounts for VAT and in…
The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a…
HMRC’s VAT Notice 700/1: should I be registered for VAT? has recently been updated. The update reflects the fact that…
The VAT paid in other EU countries is often recoverable by VAT-registered businesses in the UK, who bought goods or…
The VAT system is policed by HMRC and there can be heavy penalties for breaches of the
The new VAT road fuel scale charges have been published. The changes amend the VAT scale charges for taxing private…
Where an employee with a company car is provided with fuel for their own private use by their employers, the…
There are special VAT rules that allow two or more corporate bodies to be treated as a single taxable person…
As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when…
Book a free initial consultation with Makesworth’s chartered accountants.
Book a consultation 020 7993 8850