VAT Checklist | Our Top Four Tips
VAT Checklist | Our Top Four Tips

Do you know everything you need to know about VAT?  As part of your business planning for 2020, we’ve picked the brain of our VAT expert, Michele Harris, who gives her top four tips when it comes to correctly planning for the all-important, yet somewhat complicated...

VAT: Understanding The Cash Accounting Scheme
VAT: Understanding The Cash Accounting Scheme

Paying VAT should never reduce your business profits as you are acting as an unpaid tax collector for HMRC. The VAT added to your sales (less any VAT paid on your purchases) is simply collected from your customers (less amounts paid to suppliers) and the difference...

Can You Claim Back The VAT When You Buy A Car?
Can You Claim Back The VAT When You Buy A Car?

The short answer to this question is a resounding “no”, but as always with tax, there are exceptions. Obviously, if you are in business and not VAT registered, you cannot reclaim the VAT added to any of your purchases. If you are VAT registered, HMRC has published the...

VAT Domestic Reverse Charge | Construction
VAT Domestic Reverse Charge | Construction

Just one month to go until the so-called “Domestic Reverse Charge” will apply to VAT-registered traders who are also registered to use the Construction Industry Scheme. Who's Paying The VAT Bill? There has been an awful lot of commentary in the press claiming that...