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Investigating underpaid VAT: HMRC's best powers of judgment
Image:© Getty images/iStockphoto Imagine the following situation: you trade in the High Street as a retail ou...
VAT errors and adjustments: some practical examples
© Getty images/iStockphoto HMRC has recently introduced a new online form to correct errors made by a busines...
Input tax: the need for deals to be properly structured
VAT on deals involving three parties has always been a hotbed of potential problems.
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Late VAT returns: points will lead to penalties
Older readers will remember the famous catchphrase of the late entertainer Bruce Forsyth with his game show qu...
The new penalty regime for late VAT payments starts on 1 January 2023
1 January 2023 will be a massive date in the VAT calendar.
Is activity deemed to be business or non-business for the purposes of VAT?
HMRC recently issued Revenue and Customs Brief 10 (2022) (see bit.ly/3BJGVvr), explaining its new interpretati...
A donation for VAT purposes: no-strings attached giving
There’s an old saying that ‘there’s no such thing as a free lunch.’ Fortunately, that is not always the case, ...
VAT savings tips for SMEs: practical ways to improve cash flow
VAT is often the forgotten tax. Charge VAT on your sales and claim it back on your expenses. Submit and pay a ...
Saving VAT on builder services: when the 5% rate applies
The starting point with any supply of goods or services in the UK is that they are subject to VAT at 20%. ...
Partial exemption in VAT registered businesses
What are the basic rules of partial exemption?