by admin | Jul 15, 2020 | Value Added Tax |
HMRC has published new guidance for VAT registered businesses in the hospitality, holiday accommodation and attractions sectors. This new guidance follows the Chancellor’s announcement in the Summer Statement of a temporary reduction in the VAT rate from 20% to...
by admin | Jul 8, 2020 | Value Added Tax |
There are special rules for businesses established outside the EU submitting a claim for VAT incurred on goods or services bought in the UK. The exact rules that determine what VAT is refundable can be complex. There are also a number of conditions which must be met...
by admin | Jul 8, 2020 | Value Added Tax |
Businesses can close a VAT registration for two main reasons. For example, the business has stopped making taxable supplies or a voluntary deregistration can be made by businesses that does not expect its taxable turnover to exceed the deregistration limit. The...
by admin | Jun 24, 2020 | Value Added Tax |
The VAT Flat Rate scheme is intended to simplify the way a business accounts for VAT and reduce the administration costs of complying with the VAT legislation. There can also be a decent VAT saving for those using the scheme. The scheme is only open to businesses that...
by admin | Jun 10, 2020 | Value Added Tax |
A voluntary VAT deregistration can be made if you do not expect your taxable turnover to exceed the VAT deregistration limit. The current deregistration limit is £83,000. If you are running a small business that has been adversely affected by the Coronavirus...
by admin | Jun 10, 2020 | Value Added Tax |
The VAT rule changes for building contractors and sub-contractors that were expected to come into effect on 1 October 2020 have been delayed for a further 5 months until 1 March 2021. The delay is due to the impact of the Coronavirus pandemic. The new rules will make...
Recent Comments