The VAT annual accounting scheme is open to most businesses with a turnover of up to £1.35m per year. The main benefits of the scheme... Continue reading
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Whilst the majority of businesses charge VAT at the standard rate of 20% there are a number of different VAT rates and exemptions that businesses... Continue reading
HMRC operates a simplification measure that allows businesses to claim back VAT from mileage claims using a standardised scale charge to value fuel costs for... Continue reading
HMRC is continuing to pressure online marketplaces marketplace (such as eBay or Amazon) to tackle online VAT fraud. Online marketplaces are already accountable for VAT... Continue reading
The new Fulfilment House Due Diligence Scheme (FHDDS) opened for online applications on 1 April 2018. The FHDDS is part of a package of measure... Continue reading
There are complex VAT rules that determine the amount of VAT that can be recovered when purchasing a new car. In most cases, when a... Continue reading
Under new rules that came into force on 15 March 2018, HMRC has enhanced powers to make online marketplaces accountable for VAT fraud committed by... Continue reading
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... Continue reading
We have often warned our readers of the importance of submitting and paying VAT returns in a timely manner. In a recent article we wrote... Continue reading
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