Of the many tax obligations people must consider, one of them is whether you need to become registered for VAT. VAT is chargeable on: any supply of goods or services; made in the UK; where it is a taxable supply; made by a taxable person; in the course of furtherance […]
Tag Archives: VAT
01
Jun
Jun
Usually, the mention of VAT makes people groan and mumble, probably because everyone has to pay it, whether it’s to fill up your car, ordering a pint, or even on a packet of Rolos as a treat for yourself (or maybe your kids if you’re feeling generous). There are […]
Blog, Business, Employers, VAT
Hospitality sector – promote advance payments for Christmas parties now!
12
Aug
Aug
To those of you in the hospitality and tourism sector, you have been enjoying a reduced rate of VAT (5%) since 12 July 2020. This reduced rate applies to most supplies made by hotels, tourist attractions, members’ clubs and most places that host events. It also applies to the food […]
07
Jul
Jul
What do these new VAT rules mean for UK sellers? From 1 July 2021, the VAT rules on cross border sales from business to consumer (B2C) have changed. A consumer being an individual or organisation that is not registered for vat. There is no longer a threshold for distance selling […]
25
May
May
Not many businesses operate without a bit of bad debt, although hopefully it is just the odd one! However, for tax purposes, there are different rules depending on the tax involved. VAT There are detailed instructions for VAT relief on bad debts which is set out in VAT Notice 700/18, […]
04
Mar
Mar
The portal to allow you to pay VAT deferred due to Covid-19 is now open If you deferred paying any VAT between 20 March 2020 and 30 June 2020 you can now:- pay the deferred VAT in full, on or before 31 March 2021 join the VAT deferral new payment scheme […]
14
Jan
Jan
Big changes are coming to the way in which VAT is administered to the construction industry. From 1 March 2021 the CIS VAT Domestic Reverse Charge Measure will apply to supplies of construction work. Proposals: When the reverse charge applies the customer must account for the supplier’s output VAT This […]
The Government has today (15.07.20) temporarily reduced the VAT rate to 5% (from 20%) in order to support the hospitality sector on certain good or services. This reduction will apply to food and non-alcoholic drinks supplied by restaurants, pubs, bars, cafes and to hot take-away food outlets. The reduced rate […]
21
Mar
Mar
This week has been unprecedented in terms of daily updates of government support to businesses and individuals in the current climate. Literally things are changing on a daily basis. We are doing our very best to keep you updated and therefore please see below our latest updated summary where we […]