How Does VAT Work In The UK?
Navigating the intricacies of UK VAT can be a daunting task, especially for overseas companies. Understanding the fundamentals and requirements is essential to ensure compliance…
New VAT Threshold Comes Into Force
New, higher threshold for paying VAT comes into force this week, helping some small businesses avoid the tax. In what’s been described as a ‘boost…
When you must register for VAT
The taxable turnover threshold, which determines whether businesses should be registered for VAT, is currently £85,000. The taxable turnover threshold that determines whether businesses can
VAT Capital Goods Scheme
The VAT Capital Goods Scheme (CGS) is a means of spreading the initial VAT recovery in respect of certain assets over either 5 or 10
Activities subject to the scope of VAT
There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT. An activity will fall within
VAT supplies for no consideration
In most cases, a supply of goods or services for VAT purposes is deemed to have taken place in return for consideration. This is usually
VAT recovery when leasing vehicles
The VAT treatment of motoring expenses is relevant to any business that incurs VAT on motor expenses. We have covered below some important points to be
Transferring a VAT registration
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can
Transfer of Business as a Going Concern
The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a business. Normally the sale of