What counts as holiday accommodation?
HMRC’s VAT Notice 709/3 entitled ‘Hotels and holiday accommodation’ explains how supplies by hotels and similar establishments such as motels, guesthouses and B&Bs should be treated for VAT
Value Added Tax
Simplifying VAT Registration for Busy Creatives: A free guide
Managing bookkeeping and accounting can create a lot of stress for creative business owners who often don’t want to be worried about the details of their business finances – they’d much rather be making music, creating stunning artworks or photographing beautiful landscapes. But finances are a fact of life that we can’t get away from …
Simplifying VAT Registration for Busy Creatives: A free guide Read More »
When you must register for VAT
The taxable turnover threshold, which determines whether businesses should be registered for VAT, is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for
VAT Capital Goods Scheme
The VAT Capital Goods Scheme (CGS) is a means of spreading the initial VAT recovery in respect of certain assets over either 5 or 10 years. The scheme seeks to agree a fair and reasonable attribution
Activities subject to the scope of VAT
There are a number of conditions that must be satisfied for an activity to be within the scope of UK VAT.
An activity will fall within the scope of VAT when all the following conditions are
VAT supplies for no consideration
In most cases, a supply of goods or services for VAT purposes is deemed to have taken place in return for consideration. This is usually payment in money but can also be of a
VAT recovery when leasing vehicles
The VAT treatment of motoring expenses is relevant to any business that incurs VAT on motor expenses.
We have covered below some important points to be aware of concerning the recovery of input tax
Tax and duty on goods sent from abroad
There are special rules to help ensure that goods sent from abroad are taxed appropriately. The aim is to not disadvantage UK businesses supplying goods in the UK, for example, by having to compete
VAT treatment of road fuel costs
There are four options for the VAT treatment of road fuel costs.
Treat all of the VAT as input tax because 100% is used for business purposes. This option only applies to fuel for cars used
Transferring a VAT registration
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for
