Category Archives: VAT

HMRC VAT Registration line closes

HMRC close the VAT registration helpline 

HMRC close the VAT registration helpline  From‌‌‌‌‌ ‌‌‌Monday‌‌‌ ‌‌22 May 2023, HMRC will close the VAT registration helpline – a subsidiary of the VAT helpline – which is dedicated specifically […]

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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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VAT Penalties - Alexander Accountancy Burton on Trent

Get ready for new VAT penalties from 1 January 2023

For VAT periods starting on or after 1 January 2023, HMRC is replacing the default surcharge with separate penalties for late returns and late payment of VAT. At the same time, HMRC is […]

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Furnished Holiday Lets and VAT - Alexander Accountancy

Furnished Holiday Lets and VAT

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. As an FHL is […]

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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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