How Brexit changed UK VAT
In the space available this summary cannot hope to cover all of the VAT changes brought about by Brexit so you should think about your own situation in detail. This short summary aims to cover some of the main variables […]
What is Postponed VAT Accounting?
Following Brexit, Postponed VAT Accounting (‘PVA’) was introduced in the UK with effect from 1 January 2021. It is a really useful simplification and valuable aid to cash-flow. This summary aims to explain what it is, how it works and […]
What to do about a delayed UK VAT number
What to do about a delayed VAT number. What should you do if you need a VAT registration but you can’t get one? How can you issue invoices while you’re waiting for a UK VAT number? This has been a […]
How to claim VAT on Bad Debts
The recent VAT tribunal case of Regency Factors plc provides a salutary lesson on how to claim VAT on Bad Debts under the Bad Debt Relief (BDR) and, perhaps more importantly, how to avoid problems with the claim. The Upper […]
Is VAT due on commission?
I have heard this question asked countless times: ‘Is VAT due on commission?’. Such a simple question but with a real can of worms for an answer. The reason for that is, not only can commission be paid on just […]
Accounts -v- VAT returns – do they match?
Accounts -v- VAT returns values not matching can lead to problems with HMRC. One of the standard checks run by HMRC when reviewing an organisation’s records is to compare the statutory account with the VAT returns submitted. It is always […]