VAT
Tax Guide for Staff Parties and Employee Gifts
It's that time of the year when many employers are planning parties and possibly even gifts for staff and clients. Navigating the complexities of Tax and VAT in these...
What is an Option to Tax and Why do it?
Many sales and rentals of land and properties are classed as VAT exempt. This means that VAT on costs for the land/building, such as professional fees, construction,...
Understanding Partial Exemption for VAT
A Guide for Businesses Making Both Exempt and Taxable Supplies What are exempt supplies? And, more to the point, what are its implications on a VAT registered...
New VAT Penalty Regime from January 2023 – Updated Guidance
A new penalty regime for VAT returns has now been introduced for all VAT periods starting on or after 1 January 2023 which replaces the default surcharge system. As HMRC have...
Changes coming in 2022 for VAT
End of COVID VAT Deferred Payments All UK VAT registered businesses had the option of deferring any VAT payments due between 20 March 2020 to 30 June 2020. They could opt in...
Making Tax Digital and Digital Links for VAT Registered Businesses with a turnover below the VAT Registration Threshold
Making Tax Digital (MTD) was brought in back in April 2019 for VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000). For periods...
Online Conferences/Events and VAT post Brexit
Over the past year and a half many events and conferences have moved online. Even with the easing of restrictions many providers are keeping an online option available. Last...
Changes to the 5% reduced rate for the hospitality sector
Back in July 2020 the VAT rate for the hospitality sector was reduced to 5% for – Restaurants Pubs Bars Cafes Hot takeaway food The reduced rate applies to food,...
Considerations before deregistering from VAT
Many businesses have experienced significant decreases in turnover due to the current economic climate and maybe considering voluntarily deregistering from VAT if their...
Making Tax Digital – Digital Links
Making Tax Digital (MTD) was brought in back in April 2019 for VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000). All...
Reverse Charge Services and VAT registration
If you buy in services from outside the UK you may not be aware that these count as part of your taxable turnover (unless the supply of service is an exempt supply). These...
VAT – Common queries and mistakes
Never a week goes by without a VAT question coming across our desks. This is an area where we add value to our clients from the outset, helping them to identify errors and...