Value Added Tax

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VAT Cash Accounting Scheme Guide
[May 9, 2008] As the credit crisis continues, many small businesses are finding that creditors are taking longer to pay their bills. If your business qualifies, you could greatly benefit by using the VAT Cash Accounting Scheme.

VAT Update - Correction of errors made easier in Budget 2008
[April 17, 2008] A helpful change in Budget 2008 is the increase in the limit below which errors can be adjusted on a VAT Return.

VAT Update - Claiming back VAT from 1973-1997
[April 14, 2008] Following the 2008 Budget, and a number of Court cases, the door has opened for many businesses and charities to recover VAT overpaid from 1973 to 1997.

VAT Update - Withdrawal of Staff Hire Concession
[April 9, 2008] Under current VAT rules, employment agencies (and other firms) charge Value Added Tax on their 'profit margin', not on the total amount received. This concession is to be withdrawn from 1st April 2009.

Bytestart Online VAT Calculator
[February 28, 2008] Handy VAT calculator to help you work out how much Value Added Tax to charge customers based on your net billing amounts.

VAT - Value Added Tax Guide
[February 3, 2008] A summary of the UK VAT registration rules - when you should register and how VAT is calculated. Value Added Tax guide for small businesses.

VAT accounting for mixed business and non-business purposes
[January 29, 2008] The issue of VAT accounting when the goods involved are put to both business and non-business purposes is perhaps more widespread than many would first consider. How to account for mixed-use VAT via the 'Lennartz Accounting' scheme.

VAT invoicing changes from 1st October 2007
[January 17, 2008] If you are in business and registered for VAT, from 1 October 2007 you are required to add certain information to your sales invoices.

Government faces small business anger over VAT delays
[November 1, 2007] The Government once again feels the heat as business VAT registration delays reach new levels. Just 7% of applications were completed within the target time period during April 2007.

VAT on computers provided for home use - revised treatment
[October 5, 2007] On 6 April 2006 the Government withdrew the Home Computer Initiative - from that date the provision of a computer for home use to an employee may become a taxable benefit.

VAT Registration chaos - compensation for small businesses?
[August 20, 2007] With VAT registrations now taking up to three to four months, the ICAEW has called for action to be taken - including a recommendation that compensation be provided for businesses that suffer as a result of such delays.

How to handle a VAT Investigation
[July 11, 2007] A simple guide to preparing for a VAT inspection. How to ensure all your VAT affairs are in order and how to conduct yourself if your business is investigated.

VAT Registration delays causing chaos
[July 5, 2007] VAT registration delays are getting worse and are now typically taking three or four months, up from two months last year, and around two weeks a few years ago, says VAT experts

Cash Accounting Scheme - simpler VAT for many more businesses
[May 18, 2007] More businesses can now benefit from easier ways to deal with VAT, following changes to the Cash Accounting Scheme (CAS).

VAT return online penalties criticised by business groups
[May 11, 2007] Two business organisations criticise the financial penalties for those who do not file their VAT returns online and claim they ignore the needs and capabilities of some smaller companies.

Electronic Filing of VAT Returns
[March 6, 2007] From 1 April 2010, all existing businesses with turnover exceeding £100,000 will be required to file and pay VAT electronically.

VAT - Cash Accounting Scheme extended from April 2007
[February 9, 2007] The VAT Cash Accounting Scheme (CAS) will be extended from 1st April 2007.

VAT Registration - Tips and Traps
[December 16, 2006] An overview of the VAT registration process, when you should register and some handy tips.

Small Business Statistics - VAT Registrations 2005
[October 30, 2006] Estimates of the number of enterprises registering and de-registering for VAT in 2005 have been published by the Small Business Service. Includes analysis and UK VAT registration map.

VAT Reverse Charge on electronic goods to combat Carousel fraud
[October 30, 2006] With effect from 1 December 2006 (subject to an announcement confirming this), traders who sell certain electronic goods will be required to use the ‘Reverse Charge’ procedure, rather than accounting for output tax under the conventional rules.

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