Value Added Tax

Businesses within the scope of VAT in the UK

The VAT system is policed by HMRC who can and do levy penalties for breaches of the legislation.

There

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VAT – transfer of business as going concern

The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a

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When you can or can’t use the VAT Cash Accounting Scheme

Under standard VAT accounting, VAT is payable on sales whether or not the customer has paid and can lead

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Extended deadline for VAT payments

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT

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VAT on compensation payments

HMRC has published a new Revenue and Customs Brief on the VAT treatment of early termination fees and

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VAT – partial exemption defined

A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT

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Changes to VAT partial exemption

HMRC has updated its guidance on the VAT partial exemption treatment relevant to businesses who supply

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Why use the VAT Cash Accounting Scheme

Under standard VAT accounting, you pay VAT on your sales regardless of whether your customer has paid

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VAT option-to-tax changes extended

To accommodate coronavirus disruption HMRC temporarily changed the time limit from 30 to 90 days for

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Temporary 5% VAT rate and the Flat Rate Scheme

HMRC has published new guidance for VAT registered businesses in the hospitality, holiday accommodation

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UK VAT claims by non EU businesses

There are special rules for businesses established outside the EU submitting a claim for VAT incurred on

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Reclaiming VAT after deregistration

Businesses can close a VAT registration for two main reasons. For example, the business has stopped

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