Category Archives: Value Added Tax

What goods are eligible for the margin scheme?

22nd October 2021 Posted by -

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

11th October 2021 Posted by -

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

6th October 2021 Posted by -

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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VAT Experts Burton on Trent

VAT register inactivity

29th September 2021 Posted by -

HMRC’s published guidance titled ‘Check genuine HMRC contact that uses more than one communication method’ has been updated. The list is intended to help taxpayers check if recent contacts purporting to be […]

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Deadline for notifying an option to tax (VAT) land and buildings

14th September 2021 Posted by -

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

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Recovering VAT on car purchases

26th August 2021 Posted by -

There are complex VAT rules that determine how you can recover VAT on car purchases. The usual fallback rule is that if you purchase a car for your

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VAT inclusive and exclusive prices

11th August 2021 Posted by -

When identifying the amount of VAT charged, it is important to distinguish between VAT inclusive and VAT exclusive prices. A VAT inclusive price

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VAT & what you can and cannot reclaim

20th July 2021 Posted by -

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where

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