VAT Flat Rate Scheme – what is a limited cost trader?
The VAT Flat Rate Scheme is designed to simplify the way a business accounts for VAT and, in doing so, reduce the administrative burden associated with VAT compliance. The scheme
Your responsibilities if registered for VAT
It is important to understand both when VAT registration is required and the ongoing obligations that follow. The VAT registration threshold is currently £90,000 of taxable
VAT recovery on car leasing
The VAT treatment of car leasing is an important consideration for businesses that incurs VAT on these costs. In general, leasing companies are able to recover the VAT incurred on
Reclaiming VAT on a self-build home project
Reclaiming VAT on a self-build home project can significantly reduce the overall cost of building or converting your property. The VAT DIY Housebuilders Scheme is a special VAT
When not to charge VAT
When issuing invoices, it is important to apply the correct VAT treatment. In some cases, that means not charging VAT at all. Although most UK businesses charge VAT at the standard
Which supplies are zero rated for VAT?
Understanding which supplies are zero rated for VAT is essential for any business. A zero-rated supply is still a taxable supply, but it is charged at a 0% VAT rate. This
Do you charge VAT when you sell a company car?
The question of whether or not you are required to charge VAT when selling a company car depends on how the vehicle was bought and whether VAT was recovered at the time.
Check a UK VAT number is authentic
Verifying a VAT number before reclaiming VAT can protect your business from rejected claims, repayments, and unnecessary penalties.The online service for checking a UK VAT number
VAT Annual Accounting – filing your return
For eligible businesses, the VAT Annual Accounting Scheme can reduce paperwork, smooth cash flow and replace quarterly returns with a single annual submission.
The VAT Annual
Work out your VAT fuel scale charge
VAT road fuel scale charges are fixed, standardised amounts that businesses must use to account for output VAT when they provide fuel for private use in a vehicle that is also used