VAT errors…
VAT Errors can happen due to a variety of circumstances – and far too many and various to list here. […]
VAT
Are you monitoring your turnover on a regular basis for the purposes of VAT?
For those smaller businesses, the business must register for VAT where the turnover, on a rolling 12-month basis, exceeds £90,000.
VAT Road Fuel scale charges
If VAT is reclaimed on road fuel and the vehicle has any element of private usage, an adjustment is needed
The Budget and VAT
From 1 April 2024, the VAT registration threshold and deregistration thresholds each increased by £5,000 to £90,000 and £88,000 respectively.
Charging electric cars at home
HMRC have recently clarified their view of the tax treatment for the reimbursement of electricity costs where employees charge their
Are you claiming VAT at the appropriate rate on expenses?
Many software packages have a “default VAT rate” which can be set for each expense code. This can speed up
Might the VAT flat rate scheme be beneficial to your business?
If you use the Flat Rate Scheme, you charge VAT to your customers (‘output VAT’) and pay VAT to your
VAT on Food – a complex minefield
If you sell food for human consumption, it can be zero rated (unless it is supplied in the course of
Taxable interest? With interest rates rising this might affect you soon
A “savings allowance” is available to basic rate taxpayers – £1000 p.a. and higher rate taxpayers – £500 p.a. With
Do you sell via online platforms and if so, are you accounting correctly?
The Internet means a business can sell products to practically anywhere in the world. There are many online selling platforms–