Where an error on a past VAT return is uncovered taxpayers have a duty to correct the error as soon as possible. HMRC can also... Continue reading
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A new Revenue and Customs Brief 7/18 has been published by HMRC concerning their policy on the VAT accounting treatment of promotions, where payments are... Continue reading
The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes when Making Tax Digital (MTD) returns, is... Continue reading
New draft legislation has been published as part of the draft Finance Bill 2018-19 that aims to change the VAT treatment of vouchers. The legislation... Continue reading
There are a number of VAT issues to consider if you are selling digital services from the UK to consumers based in other EU countries.... Continue reading
The First-Tier Tribunal recently heard an appeal that considered the correct VAT treatment of a promotional offer by the retailer, Marks and Spencer (M&S). The... Continue reading
The VAT annual accounting scheme is open to most businesses with a turnover of up to £1.35m per year. Businesses that use the scheme are... Continue reading
HMRC has launched a new consultation inviting comments from interested parties regarding the introduction of new VAT reverse charge legislation for certain construction services. Continue reading
There are special rules that determine the recoverability of VAT incurred before a business registers for VAT. This type of VAT is known as pre-registration... Continue reading
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... Continue reading
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