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ACCA: How to claim EU VAT refund after Brexit

by | Aug 17, 2021 | ACCA, VAT

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Businesses must follow a new route to get VAT refund paid in EU countries Following the UK’s departure from the EU on 31 January 2020 – and...

Brexit: Summary for VAT impacts

by | Jan 29, 2021 | ACCA, business issues, VAT

The UK exited the EU VAT regime, Customs Union and Single Market from 1 January 2021. This means the loss of a range of compliance simplifications and the imposition of customs declarations, goods regulations, services and import VAT. A Brexit Trade and Cooperation...

De-Registering for VAT

by | Oct 26, 2020 | Covid19, VAT

Many businesses have seen a drop in turnover over recent months. If you are VAT registered this may have taken you below the VAT threshold  – so can you de-register? Well, its attractive, and possibly beneficial if you can.  But as with a lot of things the devil...

ACCA on Bad debt relief and VAT claims

by | Jul 31, 2020 | ACCA, VAT

A 60 second guide to VAT return adjustments on bad debt.   Debts outstanding for more than six months after the later of the date when the payment was due and payable or the date of supply require adjustment in VAT returns of both the supplier and the customer....