by admin | Jul 22, 2021 | Value Added Tax |
HMRC sets out specific guidance regarding the application of VAT if you are in the taxi and private hire car trade. VAT Notice 700/25 – How VAT applies to taxis and private hire cars – applies. Private hire cars include mini-cabs. The notice is...
by admin | Jul 15, 2021 | Value Added Tax |
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where there is personal or private use of goods or services bought for the business and can usually only reclaim the business...
by admin | Jul 8, 2021 | Value Added Tax |
There have been significant changes to the EU VAT rules for the sale of goods for businesses selling goods to consumers (B2C) located in the EU from 1 July 2021. The changes mean that EU VAT must be applied on all goods that are sold online in the EU regardless of...
by admin | Jul 8, 2021 | Value Added Tax |
The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated fraud. The domestic reverse charge procedure applies to the supply and purchase of the certain specified goods and...
by admin | Jun 24, 2021 | Value Added Tax |
A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This can happen where a business makes or intends to make both taxable and exempt supplies and incurs input tax that relates to both kinds of supply....
by admin | Jun 17, 2021 | Value Added Tax |
The VAT DIY Housebuilders scheme is a special scheme that enables someone building their own home to benefit from special VAT rules that allow the qualifying construction costs of new homes and certain conversion works to be zero-rated. The scheme has been designed to...
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