Reminder to sign up for Making Tax Digital before August
VAT registered businesses with a turnover above the VAT threshold, need to be ready to keep digital records for VAT purposes using Making Tax Digital (MTD). This means that
When you can’t reclaim VAT
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where there is any personal or private
VAT default surcharge appeal dismissed
HMRC imposes a VAT default surcharge on businesses that submit late VAT returns. VAT registered businesses are required by law to submit their return and make sure that payment of
VAT and disaggregation
The artificial separation of businesses is where two or more businesses are split, and each 'separate' entity operates below the VAT registration threshold (currently
VAT reverse charge construction industry
A change to the VAT rules first announced at Budget 2018, will come into effect from 1 October 2019. This change will make the supply of construction services between construction
What records must a VAT trader keep?
There are distinct rules that VAT registered businesses must follow when keeping VAT records. This includes keeping proper business and accounting records, a separate VAT account