VAT

Brexit is the scheduled withdrawal of the United Kingdom (UK) from the European Union (EU). Following a June 2016 referendum, in which 51.9% voted to leave. The UK government announced the country's withdrawal in March 2017. Starting a two-year process that was due to conclude...

The guidance around the (TOMS) Tour Operators Margin Scheme (VAT Notice 709/5) improved, including Paragraph 6.1, which details how to work out the selling price under the Tour Operators Margin Scheme.   TOMS states that the selling price includes:   Total VAT-inclusive selling price of all your margin...

 For at least 20 years making Tax Digital (MTD) is the most fundamental change to the tax administration system.   Essential elements for businesses   Paper records will no longer be sufficient It will become mandatory for almost all businesses and landlords (self-employed, partnerships, limited companies, and others) to...

Q: I am an IT consultant, operating through a VAT registered UK company. I am supplying consultancy services to another UK IT business. I have incurred hotel, travel and meal expenses, and charging these on to the company I am supplying services to. Can I...

Business entertainment is the entertainment provided by a business/company to people other than employees. An example of this is the entertainment provided to customers. If it is provided to employees of the company or if it is not provided free it means it does not...

Recovering VAT on business entertainment expenditure is not possible. This includes the gratuitous provision to customers or clients of hotel accommodation, food, and drink, or tickets to events. If a director or employee entertains a customer or client whilst away from the workplace location, the VAT...

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