News Tag Results for "VAT"

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1190
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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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1112
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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797
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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684
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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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2226
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


2128
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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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244
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Budget update 2020-Changes of VAT rules for call-off stock arrangements

Changes of VAT rules for call-off stock arrangements Changes required by Council Directive (EU) 2018/1910 are being implemented to simplify the VAT treatment of call-off stock moved from the UK... more


460
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Business owners: Choosing your year end – (date to which you make up your accounts)

Q. I have been running my own business since 1 September 2018 and now wish to complete my 2018/19 tax return. I have not incurred any capital expenditure and my turnover is less than the current VA... more

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93
Views

Can I complete monthly VAT returns?

Q. I am newly VAT-registered (voluntarily). I believe that I will usually need to pay VAT to HMRC each quarter, rather than receiving a refund. However, I have some concerns about running up arrear... more

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2325
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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427
Views

Changes in accounting for VAT after prices are altered

Changes in accounting for VAT after prices are altered HMRC have published Brief 6 (2019), which describes changes to the rules on accounting for VAT, where the amount paid changes after the VA... more

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389
Views

Coronavirus - VAT

Coronavirus - VAT HMRC have initiated a VAT deferment procedure, however the situation is fluctuating each day so could change. If you are having financial difficulties due to the coronavirus t... more

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1466
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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143
Views

Deregistering from VAT

Deregistering from VAT As a result of the Covid-19 pandemic, many businesses are currently experiencing reduced turnover. In many cases, where a business is VAT-registered, some owners are aski... more


94
Views

Do I need to charge my residential tenant VAT?

Q. My company bought a retail premises 18 months ago and I am VAT registered. I now want to let the flat upstairs to a residential tenant. Do I need to charge her VAT? A: No, as letting residen... more

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