Value Added Tax Archives - Page 4 of 6

20 Jun 24

Reclaiming pre-trading VAT

There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of VAT is known as pre-registration input VAT. There are

17 Jun 24

Are we unpaid tax collectors?

Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they are registered for VAT or not. If you are not registered

13 Jun 24

Correcting errors in VAT returns

Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a general rule, any necessary adjustment can be made on a

23 May 24

VAT reverse charge for builders

There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most

16 May 24

Check a VAT number

The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number. This service allows users to check: if a UK VAT registration number is valid; and the name

02 May 24

VAT boost to charitable donations

The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed to encourage businesses to donate

11 Apr 24

VAT retail schemes

VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or

11 Apr 24

Paying VAT on goods from EU to Northern Ireland

There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the

07 Mar 24

Spring Budget 2024 – VAT registration threshold changes

The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable turnover

15 Feb 24

Eligibility for the VAT Flat Rate Scheme

The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable turnover in the next 12 months to be no more than £150,000, excluding VAT. The annual

Value Added Tax

Reclaiming pre-trading VAT

Are we unpaid tax collectors?

Correcting errors in VAT returns

VAT reverse charge for builders

Check a VAT number

VAT boost to charitable donations

VAT retail schemes

Paying VAT on goods from EU to Northern Ireland

Eligibility for the VAT Flat Rate Scheme

Don’t forget to pay your Class 1A NIC

File and paying CGT after property sales

Struggling to fund your July tax payment?

SJPR