Category Archives: Value Added Tax

TOGC overview

TOGC overview

The transfer of a business as a going concern (TOGC) rules cover the VAT liability on the sale of a business. Normally the sale of the assets of a VAT

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Business advice Burton on Trent - VAT and Business Gifts

VAT and business gifts

In general, VAT does not have to be accounted for on business gifts to the same person as long as the total cost of the gifts does not exceed £50 (before […]

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Alexander Accountancy VAT experts Burton upon Trent

VAT Business Test

There are a number of conditions that must be satisfied in order for an activity to be within the scope of UK VAT. One of the conditions that needs to […]

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VAT reverse charge and the flat rate scheme

VAT reverse charge and the flat rate scheme

There are special VAT rules for building contractors and sub-contractors that came into effect on 1 March 2021. The new rules make the supply of most

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VAT Margin Scheme bad debt relief

VAT Margin Scheme bad debt relief

The VAT bad debt relief rules allow businesses to claim bad debt relief and reclaim the VAT they have paid to HMRC. This can happen when an invoice

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What goods are eligible for the margin scheme?

What goods are eligible for the margin scheme?

There are a few VAT margin schemes. The margin schemes work by allowing qualifying businesses to account for VAT on their profit margin i.e., on the

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Hospitality trades temporary reduction in VAT has expired

Hospitality trades temporary reduction in VAT has expired

The temporary reduced rate of 5% for hospitality, holiday accommodation and attractions that came into effect in July 2020 ended on 30 September

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Completing a One Stop Shop VAT return-Burton on Trent

Completing a One Stop Shop VAT return

HMRC’s guidance on how to complete and submit a One Stop Shop (OSS) VAT Return from 1 October 2021 has been updated. The special VAT return should only be completed […]

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