This articles has been taken from HMRC website, This section explains how the criteria for zero rating explained at paragraph 2.2 apply to general food products supplied for both home consumption and for processing within the food industry. If you’re supplying food in the course of catering...
This article has been taken from HMRC website to help our clients. Liability of takeaway food and drink Hot takeaway food that meets certain tests set out below is standard-rated. Cold takeaway food and drink is zero-rated, as long as it’s not of a type that’s always...
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 formally announced the country's withdrawal in March 2017, starting a two-year process that was due to...
The guidance around the Tour Operators Margin Scheme (VAT Notice 709/5) has been updated, including Paragraph 6.1, which details how to work out the selling price under the Tour Operators Margin Scheme. It states that the selling price should include: the total VAT-inclusive selling price of all your...
VAT refunds for DIY builders If you build your own house or convert an existing property into a home, you may be eligible to apply for a VAT refund on building materials and services. You do not need to be VAT registered to claim a refund. What...
h Making Tax Digital (MTD) is the most fundamental change to the administration of the tax system for at least 20 years. The essential elements for businesses and organisations are: Paper records will no longer be sufficient: It will become mandatory for almost all businesses and landlords (self-employed, partnerships, limited companies and...
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: 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...
VAT cannot be recovered on business entertainment expenditure. 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 on...
VAT returns are made quarterly in the majority of cases, but there are monthly and annual schemes. You must file your VAT return online by the end of the month plus 7 calendar days of the period end. For example for a quarter ended in May,...
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