Category Archives: Value Added Tax

Business advice Burton on Trent New VAT penalties and interest payments

New VAT penalties and interest payments

The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties are due by 7 March 2023. The late […]

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Making tax digital filing VAT Alexander Accountancy Burton upon Trent

November 1st – VAT businesses to be ready for Making Tax Digital filing

HM Revenue and Customs (HMRC) is reminding businesses that from Tuesday 1 November 2022, they will no longer be able to use their existing Value Added Tax (VAT) online account […]

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VAT Flat Rate Scheme – are you a limited cost trader-Alexander Accountancy

VAT Flat Rate Scheme – are you a limited cost trader?

The VAT Flat Rate Scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with the VAT […]

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VAT – discounts and free gifts-Business advice Burton on Trent

VAT – discounts and free gifts

When you issue an invoice to your customer, you must ensure that you charge the correct rate of VAT. Whilst most businesses in the UK charge VAT at the standard […]

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Builders – when you may not have to charge VAT- Alexander Accountancy Burton on Trent

Builders – when you may not have to charge VAT

VAT for most work on houses and flats by builders and similar trades, like plumbers, plasterers and carpenters, is charged at the standard rate of 20%. However, there are a […]

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Revoking VAT option to tax land and buildings-

Revoking VAT option to tax land and buildings

There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that […]

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Charging charities at lower rates of VAT

Charging charities at lower rates of VAT

There are special rules, under which a VAT-registered business can sell certain goods and services to charities at the zero or reduced rate of VAT. Before charging VAT at a […]

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VAT experts Burton on Trent - Alexander Accountancy

VAT Flat Rate Scheme exclusions

The VAT Flat Rate scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with VAT legislation. Using […]

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