by admin | Sep 25, 2019 | Value Added Tax |
HMRC has confirmed that after Brexit, you will not be able to use the UK’s VAT Mini One Stop Shop (MOSS) to declare and pay VAT. The final return period for the UK’s VAT MOSS system will be the period ending 31 December 2019. However, on this final return...
by admin | Sep 18, 2019 | Value Added Tax |
Businesses that use the flat rate scheme pay VAT as a fixed percentage of their VAT inclusive turnover. The VAT agricultural flat rate scheme is a variant of the flat rate scheme specifically designed for farmers and other activities relating to agricultural...
by admin | Sep 10, 2019 | Value Added Tax |
The VAT rule changes for building contractors and sub-contractors that were expected to come into effect imminently, have been delayed for 12 months until 1 October 2020. This surprise announcement followed intense lobbying by the construction industry who have...
by admin | Aug 28, 2019 | Value Added Tax |
A compulsory VAT deregistration is usually required if you: Stop making taxable supplies Sell your business Change legal status Disband a VAT group Join a VAT group Join the agricultural flat rate scheme A voluntary VAT deregistration can be made if you do not expect...
by admin | Aug 28, 2019 | Value Added Tax |
Important changes to the VAT rules for building contractors and sub-contractors are coming into effect from 1 October 2019. In a nut-shell, if you are subject to the Construction Industry Scheme (CIS) and if you are registered for VAT, from the 1 October 2019 you may...
by admin | Aug 14, 2019 | Value Added Tax |
There are complex VAT rules that determine the amount of VAT that can be recovered when purchasing a new car. The usual rule is that when you purchase a car for your business then no VAT can be reclaimed. The main exception to this rule is when the new car...
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