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Reclaiming VAT input tax prior to registration

by | Jul 23, 2015 | VAT

Once you have registered your business for VAT the first thing you should consider is the possibility of reclaiming input tax on purchases of goods and services prior to registration. This article summarises the issues you will need to consider for the two categories:...

VAT – understanding the flat rate scheme

by | Jun 11, 2015 | ACCA, VAT

A summary of eligibility and how to implement and manage the flat rate scheme. The flat rate scheme is designed to help small businesses by applying a single percentage rate to the turnover in a VAT period. The main benefit of the scheme is the time saved recording...

VAT issues update

by | Mar 29, 2015 | ACCA, VAT

Updates on VAT MOSS and businesses which are alcohol wholesalers. VAT Mini One Stop Shop (VAT MOSS) The place of supply of digital services – otherwise known as broadcasting, telecommunications and electronic services (BTE) – has moved to where the customer is based...

VAT: partial exemption method using floor space

by | Feb 10, 2015 | ACCA, VAT

HMRC has issued Revenue & Customs Brief 35/2014: Lok.nStore Group PLC (LnS) decision on calculating deductible VAT. The decision was focused on the use of the Partial Exemption Special Method (PESM) and how fair and reasonable it was when compared to the standard...
Whitefield Tax - Isle of Wight Accountants - IR35 specialists
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