Category Archives: Value Added Tax

Recovering VAT on car purchases

Recovering VAT on car purchases

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

VAT inclusive and exclusive prices

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

VAT & what you can and cannot reclaim

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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VAT – which supplies does reverse charge apply to

VAT – which supplies does the reverse charge apply to

The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated

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VAT – what is partial exemption?

VAT – what is partial exemption?

A business that incurs expenditure on taxable and exempt business activities is partially exempt for VAT purposes. This can happen where a business

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Who can use VAT retail schemes - Alexander Accountancy Burton on Trent

Who can use the VAT retail schemes?

VAT retail schemes are a special set of schemes used by retail businesses to account for VAT.  The schemes are used by businesses that sell a significant amount of low […]

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Building a new home and VAT

Building a new home and VAT

The VAT DIY Housebuilders scheme is a special scheme that enables someone building their own home to benefit from special VAT rules that allow the

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What is distance selling for VAT purposes?

What is distance selling for VAT purposes?

Distance selling is the term used to describe supplies of delivered goods from one EU Member State to a customer in another member state who is not

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