News Tag Results for "VAT"

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643
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Q3. How long do I need to keep VAT records for?

Q3. How long do I need to keep VAT records for? A: VAT-registered businesses must: - keep records of sales and purchases; - keep a separate summary of VAT; and - issue correct VAT... more

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642
Views

Adjustments to VAT registration and deregistration thresholds

Adjustments to VAT registration and deregistration thresholds From 1 April 2016, VAT thresholds are to be increased in line with inflation:  The registration limit £83,000 (previ... more

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336
Views

Autumn Budget 2017 - VAT: extending joint and several liability for online marketplaces and...

Autumn Budget 2017 - VAT: extending joint and several liability for online marketplaces and displaying VAT numbers online The existing joint and several liability legislation is to be extended.... more

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241
Views

Autumn Budget 2017 - VAT: no change in registration and deregistration thresholds

Autumn Budget 2017 - VAT: no change in registration and deregistration thresholds The VAT registration and deregistration thresholds will not be uprated for a period of two years. There will be... more

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1703
Views

Autumn Statement Tax Summary

Autumn Statement Tax Summary   George Osborne did not have great tidings to impart when he presented his Autumn Statement to the House of Commons on 29 November 2011. The best he could... more


1708
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Budget Update - VAT

Budget Update - VAT   VAT Rates and Thresholds There were few changes announced for VAT. The rates and thresholds are as follows from 1 April 2011: Lower rate - 0% Reduced ra... more

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1897
Views

Cash Basis for Small Businesses

Cash Basis for Small Businesses The cash basis was also mentioned in the 2013 Budget announcements, but now we have some more details. In an attempt to simplify accounting and tax reportin... more

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1047
Views

Cross-border Services

Cross-border Services You may have heard that the price of electronic books and music will rise on 1 January 2015. This is because electronic services (including e-books and music), will be&nbs... more

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608
Views

EU consultation on ending VAT on eBooks

EU consultation on ending VAT on eBooks   The future of the chargeable rate of VAT on digital publications and eBooks is under review as the European Commission (EC) has launched a two... more

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1143
Views

Flat Rate VAT

Flat Rate VAT The flat rate VAT scheme for small businesses is designed to reduce administration hassle for the businesses that use it, not to reduce the amount of VAT the business pa... more

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669
Views

How does the Flat Rate scheme work?

How does the Flat Rate scheme work?  Broadly, the flat rate scheme for VAT is designed to help small businesses with a turnover of no more than £150,000 a year, excluding VAT, by tak... more


1893
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Missing Trader Fraud

Missing Trader Fraud This is a type of VAT fraud that costs the UK millions of pounds every year. It works like this... A VAT registered company based in the UK purchases small high-value ... more

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275
Views

MTD VAT regulations to be available by April

MTD VAT regulations to be available by April 2018 The government has confirmed plans to publish and consult on draft VAT regulations for Making Tax Digital (MTD), with the aim to have the regul... more


1721
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Must You Register for VAT?

Must You Register for VAT?   There is a myth in certain quarters that every legitimate business is required to be VAT registered. This is not the case. Your business (as a sole-trader,... more

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266
Views

Office of Tax Simplification outlines future work plans

Office of Tax Simplification outlines future work plans The Office of Tax Simplification (OTS) has published a paper outlining its future works programme, identifying areas of interest that the... more

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