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
Penalty points for late filing of VAT returns
Many businesses are still unaware that the VAT late filing and late payment rules now operate on a points-based system, where repeated delays can quickly lead to a £200 penalty and
Advantages of VAT Flat Rate Scheme
If your business has relatively low VATable expenses, the VAT Flat Rate Scheme can simplify your VAT reporting and may also improve cash flow.
The VAT Flat Rate Scheme is designed
VAT on goods you export
Exports from Great Britain or Northern Ireland can be zero-rated for VAT, provided businesses obtain valid export evidence within three months of sale and meet all HMRC
Benefits of the VAT Cash Accounting Scheme
Waiting to be paid but still having to hand over VAT? The VAT Cash Accounting Scheme potentially lets you pay VAT only when your customer pays you, helping to ease cash flow