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VAT - Value Added Tax
I applied for VAT registration and was called by the VAT office. What went wrong?
I recently applied for VAT registration for my business as the turnover had exceeded the compulsory registration threshold. Now I’ve had a call from the
Is it True that VAT Scheme would Save you a Lot of Time and Hassle?
I have received a leaflet from the VATman that says the flat rate VAT scheme would save me a lot of time and hassle, is
Late VAT Payments and Interest
The new penalty regime for late payment of VAT is fairer to those who miss the VAT payment deadline by a few days. For Vat
Latest News Round-Up | March 2022
IR35 TV presenter Adrian Chiles has cleared the first hurdle in his battle against HMRC’s insistence that his working arrangements with ITV and the BBC
New Tool May Help Businesses Better Understand VAT Registration Implications
Do you own or work for a business that needs to register for VAT? If so, you might find it of interest to learn that
Options for Handling a VAT Bill When Cashflow Is Tight
Q: I run a small business. Due to a cashflow issue, we’re struggling to pay our next VAT bill in full and we’ve only got 20
Should I Add VAT for Selling Trailer Used by my VAT Registered Business?
I am about to sell a trailer that has been used by my VAT registered business for a few years. Do I have to add
Should I be Adding VAT to my Invoices if I Didn’t Receive VAT Number?
I recently started a graphic-design business and I have applied for a VAT number but it hasn’t come through yet. Should I be adding VAT
Spring Budget 2024: NICs Cut, Non-Dom Tax Break Abolished & More
Introduction Cuts to National Insurance contributions and the abolition of so-called ‘non-dom’ tax breaks were among the headline announcements in today’s Budget. The Chancellor today
Struggling with VAT Compliance
Q. Our business has been struggling with VAT compliance for a number of years. Admittedly, this has largely been down to us, particularly the misconduct of
VAT – Charged Too Much?
Suppose that a business has been paying its suppliers’ invoices for many years without really giving too much thought to the VAT being applied. The
VAT Late Filing Penalties
VAT registered businesses must now use MTD-compatible software to file VAT returns, as the old online form where you typed in your VAT figures has
VAT Penalty Notices
Two new VAT penalty regimes came into effect for VAT periods beginning on and after 1 January 2023, for late filing of VAT returns and
VAT Registration – Online Only from November 2023
There are two ways to register for VAT: The VAT Registration Service (VRS) – online, or The VAT1 form – paper by post This is set
VAT Repayment Evidence
HMRC are always a little suspicious of businesses that claim a VAT repayment in their first VAT return, or a large refund in a later
VAT Returns and MTD for Corporation Tax
Q. We have been reporting our VAT returns under MTD since April 2021. As our systems are already set up and compliant with this, am I
What Contracts and Invoices Do I Need to Avoid VAT?
My business is an agency that provides rented holiday accommodation to UK holiday-makers. My commissions are less than the VAT registration threshold, so I am
What Happens to VAT Received from Customers after Deregistration Date?
I am about to sell my VAT registered business as a going concern, but the buyer will not take on my VAT number so I
What records do I need to keep regarding my motoring expenses?
I am a self-employed fitness instructor and I teach classes at a number of locations. What records do I need to keep regarding my motoring
What records do I need to keep to claim travelling expenses?
What records do I need to keep to claim travelling expenses? Do I also need to keep receipts for petrol? You should record the