21 Costly VAT Mistakes businesses make on their VAT Returns

VAT return

Is a Jaffa Cake a biscuit or a cake?

Now if you think this is some playground joke, think again. This is a real question that judges were asked to consider in a landmark VAT case.

The fact it took a court case to work out the answer to this question gives you an insight into just how complicated the UK’s VAT system has become. If HMRC, can’t answer such a simple question, what hope is there for busy small business owners?

With the complexity of the VAT laws it’s understandable that businesses make mistakes on their VAT returns. However, these mistakes can be very costly both in terms of paying the wrong amount of VAT and also triggering a VAT investigation.

To help you avoid making these expensive mistakes, we asked Jonathan Amponsah, founder of The Tax Guys, to reveal the 21 common mistakes small businesses make on VAT Returns. (more…)

VAT pitfalls you should be aware of

If you are registered for VAT, have to file a VAT return in the near future, or are concerned about putting the wrong amounts on your VAT return, here are 5 VAT traps to watch out for.
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Top 10 VAT Tips for small businesses

Here are some tips to help small businesses keep on top of their VAT responsibilities – from choosing the right VAT scheme in the first place, to avoiding getting on the wrong side of HMRC.
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