Unauthorised issue of a VAT invoice
Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake.
A penalty may be charged by HMRC when an individual or
When you cannot charge VAT
Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes.
When a VAT-registered business issues an invoice to their customer, they must ensure
VAT late filing penalties
New rules mean late VAT filings and payments now trigger points, fines and interest charges.
The VAT late filing penalties regime changed for accounting periods beginning on or
VAT – digital record keeping
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and
VAT relief for the disabled
VAT relief is available on goods and services for people with long-term illnesses or disabilities.
There are special VAT reliefs available for certain people living with
Using the VAT Cash Accounting Scheme
Struggling with late-paying customers? The VAT Cash Accounting Scheme helps protect cash flow by taxing only what you have received.
The VAT Cash Accounting Scheme is designed to
VAT Annual Accounting
Streamline your VAT reporting with fewer returns and smoother cash flow. The Annual Accounting Scheme makes VAT easier to manage for eligible small businesses.
The VAT Annual
VAT – advantages of the VAT Flat Rate Scheme
Small business? The VAT Flat Rate Scheme could cut paperwork and improve cash flow. Pay VAT as a set percentage of turnover and enjoy simpler admin, budgeting ease, and even a 1%
VAT exempt supplies
Not all VAT-free sales are the same. Understanding the key difference between zero-rated and VAT-exempt supplies could save your business money and prevent costly VAT
When can you deregister for VAT?
Considering VAT deregistration? Whether compulsory or voluntary, knowing the rules, deadlines and risks of delay can save your business from costly penalties.
The decision to