by admin | Aug 14, 2019 | Value Added Tax |
Insurance transactions are generally VAT exempt. However, there are many issues that can arise concerning the VAT liability of certain insurance transactions. One of these issues concerns the VAT treatment of insurance claims. Insurers are unable to recover VAT...
by admin | Jul 30, 2019 | Value Added Tax |
With the new Prime Minister, Boris Johnson appearing to take an increasingly hard-line, the chances of Britain leaving the EU without any working agreement, known as a 'no deal' Brexit is looking increasing likely and certainly cannot be ignored. If the UK...
by admin | Jul 30, 2019 | Value Added Tax |
New rules that make changes to the issuing of credit notes under certain circumstances will come into effect from 1 September 2019. The changes have been put in place to target certain businesses who seek to create a tax advantage by making VAT adjustments for...
by admin | Jul 17, 2019 | Value Added Tax |
VAT registered businesses with a turnover above the VAT threshold, need to be ready to keep digital records for VAT purposes using Making Tax Digital (MTD). This means that businesses must keep their records digitally (for VAT purposes only) and provide their VAT...
by admin | Jul 10, 2019 | 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 any personal or private use of goods or services purchased for the business as the business can only...
by admin | Jul 1, 2019 | Value Added Tax |
HMRC imposes a VAT default surcharge on businesses that submit late VAT returns. VAT registered businesses are required by law to submit their return and make sure that payment of the VAT due has cleared to HMRC’s bank account by the due date. The normal...
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