There are three main special VAT schemes available to small businesses. These are the flat rate scheme, the annual accounting scheme, and the cash accounting... Continue reading
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The VAT paid in other EU countries is often recoverable by VAT-registered businesses in the UK, who bought goods or services for business use. The... Continue reading
The VAT Flat Rate Scheme (FRS) has been designed to simplify a way a business accounts for VAT, and in so doing reduce the administration... Continue reading
HMRC has begun a letter writing campaign to remind businesses that the way they keep VAT records and submit their VAT returns is changing. The... Continue reading
The VAT DIY Housebuilders scheme is a special scheme, enabling homeowners building a home to benefit from the special VAT rules that allow the qualifying... Continue reading
A change to the VAT rules first announced at Budget 2018 will come into effect from 1 October 2019. This change will make the supply... Continue reading
The Chancellor confirmed in his Budget speech that the taxable turnover threshold that determines whether businesses should be registered for VAT, will be frozen at... Continue reading
The Court of Appeal recently heard a taxpayer's appeal against a decision of the Upper Tribunal to recover an amount of overpaid VAT. The claim... Continue reading
The transfer of a business as a going concern (TOGC) rules consider the VAT liability on the sale of a business. Normally, the sale of... Continue reading
There are special VAT rules that must be followed when you sell goods on a sale or return basis. Goods sold on a sale or... Continue reading
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