Value Added Tax (VAT) Guides

Value Added Tax

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Overcome the January 2011 VAT hike by planning in advance
Here are some tops tips on how small business owners can get the most out of the VAT rate change in January 2011, if they plan in advance. [July 28, 2010]

VAT rate change to 20% - how "artificial" transactions are treated
VAT expert, and Bytestart contributor, Les Howard, outlines the anti-forestalling legislation which will apply when the standard rate of VAT rises from 17.5% to 20% in January 2011. [July 22, 2010]

Thousands of claims could follow Man United VAT ruling
Manchester United's landmark VAT case could open the floodgates for thousands of claims from businesses across the UK, according to tax experts. [June 17, 2010]

Flat Rate VAT Scheme - first year bonus for newly registered businesses
As an incentive to new VAT registered businesses to consider using the Flat Rate Scheme, HMRC allow a 1% reduction in the flat rate percentage for your type of business for one year. This can be a significant benefit for newly registered traders. [June 11, 2010]

VAT Registration - When should I register?
When should you register your business for VAT, why you might want to voluntarily register, and where to find out more about the registration process. [April 5, 2010]

VAT returns for many businesses must be submitted online from April 2010
HMRC are reminding small business owners that VAT returns will soon have to be submitted online from April 2010 if you have a turnover of £100,000 or more, and for all new VAT registrants from 1st April 2010. [February 10, 2010]

Changes to European Union VAT system from 1st January 2010
Small businesses in the UK may not yet be aware of a number of important changes to the European Union VAT system which took effect from January 1, 2010. [January 25, 2010]

Accounting for the 1st January 2010 VAT change
If your VAT quarterly returns end on 31st January or 29th February 2010, they will include VAT collected and paid at both 15% and 17.5%. Readers who are on the cash accounting or Flat Rate VAT scheme are urged to take care when working out their VAT liabilities. [January 18, 2010]

Was the VAT rise a waste of time for small businesses?
A recent survey has revealed that 79% of businesses saw a huge increase in business administration as a result of the VAT rate changes in 2009, while over a third (36%) said that the rate rise had actually incurred costs and driven down profit margins. [December 21, 2009]

Small businesses urged to prepare now for January 1st 2009 VAT change
With the VAT rate returning to 17.5% on January 1st 2010, businesses are being warned to begin preparations for the change now or face disruption in the New Year. However, it appears that only one third of companies are likely to have prepared for the change in advance. [December 3, 2009]

Tips to successfully handle the VAT rate change in Jan 2010
On 1st January 2010, small businesses will have to switch back to the traditional 17.5% VAT rate, following 13 months at 15%. To quickly adjust to this change, Intuit has provided Bytestart readers with some helpful VAT tips [November 12, 2009]

VAT registration delays - new firms "fighting for survival"
Start-up businesses are struggling to set up and expand because of delays of between three and five months waiting for VAT numbers, according to a leading accountancy group. HMRC is supposed to complete most VAT registrations within two weeks. [October 1, 2009]

Checking to see if a VAT registration number is valid
How to check that a VAT registration number you have been given is valid. This could help protect you, should your business become innocently involved in a chain of fraudulent transactions such as carousel fraud. [August 10, 2009]

VAT - Value Added Tax Guide
A summary of Value Added Tax for small businesses. When you should register for VAT, what the registration threshold means, how you repay VAT to HMRC, and links to further information. [May 18, 2009]

Detailed guide to the new VAT penalty regime from April 2009
April 2009 marks the introduction of a new VAT penalty regime. This article provides an in-depth guide to how the penalties will work. [March 31, 2009]

VAT refund deadline looms - firms urged to get claims in
Companies have until the end of March to send in VAT refund claims to HMRC for the period from 1973 to 1997. However, a big barrier to successful claims may be the lack of original accounting records. [February 25, 2009]

VAT Registration - Tips and Traps
An overview of the VAT registration process, when you should register and some handy tips. [December 16, 2008]

VAT rate change - practical tips for businesses
Some practical tips for small companies on how to deal with the reduction in the standard VAT rate from 17.5% to 15% from Monday 1st December. [November 28, 2008]

VAT Rate Reduction to 15% - How does it affect your business?
The standard VAT rate will be reduced from 17.5% to 15% between 1st December 2008 and 31st December 2009. This article explains how this change will affect different types of business, including details on tax point issues and special schemes. [November 27, 2008]

VAT on "services" - some basics
VAT law states that a service is the supply of anything that is “not goods”. That leaves a lot of very different types of supply all falling under the one category of “services”. This article provides an overview of how VAT applies to "services". [October 14, 2008]

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