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VAT

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UK VAT and the implications of Brexit

2020-05-11T11:03:25+01:00May 11th, 2020|UK General, UK Tax|

Among the many uncertain implications of Brexit, the impact on the UK’s VAT regime is still unclear. Domestic VAT rules remain the same following Brexit. However, how UK VAT is charged when importing and exporting to the EU will change. Although the government says VAT procedures will be “as close as possible to what they ...

UK VAT explained: Cash vs accrual accounting

2020-04-20T12:23:10+01:00April 20th, 2020|UK Accounting|

The chances are that as a growing business you will quickly encounter the UK’s Value Added Tax (VAT) system. There is a full VAT explainer here, but in brief, you must register for VAT if:  you expect your VAT taxable turnover to be more than £85,000 in the next 30-day period  your business had a ...