Value Added Tax
Furnished Holiday Lets and VAT
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions
Read MoreVAT Flat Rate Scheme – are you a limited cost trader?
The VAT Flat Rate Scheme has been designed to simplify the way a business accounts for VAT and in so
Read MoreVAT – discounts and free gifts
When you issue an invoice to your customer, you must ensure that you charge the correct rate of VAT.
Read MoreBuilders – when you may not have to charge VAT
VAT for most work on houses and flats by builders and similar trades, like plumbers, plasterers and
Read MoreReclaiming VAT
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the course and
Read MoreDefinition of VAT partial exemption
A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT
Read MoreRevoking VAT option to tax land and buildings
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and
Read MoreRange of supplies affected by VAT reverse charge
The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal attacks on
Read MoreMTD for VAT – digital records required
The MTD for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of
Read MoreOption to tax (VAT) land and buildings
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and
Read MoreCharging charities at lower rates of VAT
There are special rules, under which a VAT-registered business can sell certain goods and services to
Read MoreVAT Flat Rate Scheme exclusions
The VAT Flat Rate scheme has been designed to simplify the way a business accounts for VAT and in so
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