by admin | Feb 20, 2019 | Value Added Tax |
A joint venture is a commercial enterprise undertaken by two or more parties who otherwise retain their own separate identities. The parties to the joint venture usually bring together different resources and areas of expertise to help fulfil a specific project or...
by admin | Jan 29, 2019 | Value Added Tax |
Charities pay VAT on all standard-rated goods and services they buy from VAT-registered businesses. They pay VAT at a reduced rate (5%) or the ‘zero rate’ on some goods and services.Charities pays 5% VAT on fuel and power if they’re for:residential accommodation (for...
by admin | Jan 9, 2019 | Value Added Tax |
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that subsequent supplies by the person making the option to tax will be subject to VAT at...
by admin | Dec 19, 2018 | Value Added Tax |
HMRC has published what appears to be the final online quarterly edition of VAT notes which includes a summary of recent changes to the VAT rules. HRMC has confirmed that from January 2019 ‘VAT Notes’ will no longer be published online as VAT updates are...
by admin | Dec 12, 2018 | Value Added Tax |
A new Revenue and Customs Brief (6-2018) entitled VAT exemption for all domestic service charges has recently been published by HMRC. The brief explains changes to the Extra Statutory Concession (ESC) 3.18 VAT: exemption for all domestic service charges may...
by admin | Dec 12, 2018 | Value Added Tax |
The introduction of Making Tax Digital (MTD) for VAT is fast approaching. From April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will have to keep their records digitally (for VAT purposes only), and provide their VAT...
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