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Late UK VAT returns – no excuses!

Late UK VAT returns – no excuses!

Penalties for late VAT payments still apply even if an employee hides the facts from the company directors. You just can’t abdicate from being responsible for making sure VAT is being handled properly. The Damn Yankee Limited (TC05495) failed in its tribunal...
UK VAT Flat Rate cost increased

UK VAT Flat Rate cost increased

The VAT flat rate percentage is rising to 16.5% in April 2017 for registrations that don’t buy in goods. If you know anyone using the scheme they need to keep their eyes peeled for news on this cost increase.  To read more on this click...
UK VAT claims on pre-registration costs

UK VAT claims on pre-registration costs

After a long argument HMRC have conceded that they were wrong to block VAT claims on costs incurred before being VAT registered. Anyone who was blocked from making a claim can now seek a refund – an early Christmas present maybe? Welcome news and a return to how...
UK VAT-free new cars

UK VAT-free new cars

Although you might know that VAT can be claimed on business cars, please don’t think the claim comes without strings attached. In three recent cases the tribunal looked at the rules in detail with mixed results for the taxpayer. In a nutshell a business can only claim...
UK VAT Annual Accounting – is it just too risky?

UK VAT Annual Accounting – is it just too risky?

HMRC have introduced an on-line system for annual accounting applications but can this actually be good news? Better have a good look before you leap! At least if you have to do quarterly returns the accounting records will be fairly up-to-date. The danger of only...