Value Added Tax

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]

VAT registered businesses should use sequential invoice numbers
From 1st October 2007, new VAT invoicing regulations came into play which some small companies may not be aware of. From this date, all invoices issued should use an identifying number that is unique and sequential. Contains some HMRC FAQ's to help meet the new requirements. [October 9, 2008]

Reclaiming VAT from 1973-1997 - deadline looming for applicants
It's not often that companies can claim anything back from the tax man, but many businesses could be missing out on claiming VAT rebates over a 24 year period from 1973 to 1997. [August 26, 2008]

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. [August 22, 2008]

Flat Rate VAT Scheme - An Overview
Alongside the standard VAT rules, some small businesses may be better off by operating within the flat rate VAT scheme [August 13, 2008]

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

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

VAT Update - Claiming back VAT from 1973-1997
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. [April 14, 2008]

VAT Update - Withdrawal of Staff Hire Concession
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. [April 9, 2008]

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

VAT accounting for mixed business and non-business purposes
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. [January 29, 2008]

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

Government faces small business anger over VAT delays
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. [November 1, 2007]

VAT on computers provided for home use - revised treatment
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. [October 5, 2007]