by admin | Jun 13, 2024 | Value Added Tax |
Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a general rule, any necessary adjustment can be made on a current VAT return. To do this, the errors must be below the reporting threshold. Under the...
by admin | May 23, 2024 | Value Added Tax |
There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most construction services between construction or building businesses subject to the domestic...
by admin | May 16, 2024 | Value Added Tax |
The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number. This service allows users to check: if a UK VAT registration number is valid; and the name and address of the registered business. The service also allows UK taxpayers to obtain a...
by admin | May 2, 2024 | Value Added Tax |
The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed to encourage businesses to donate everyday items to charities without creating a VAT liability. A 12-week consultation on...
by admin | Apr 11, 2024 | Value Added Tax |
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items to the public with different VAT liabilities. The use of the...
by admin | Apr 11, 2024 | Value Added Tax |
There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market. There is specific guidance published by HMRC that should be...
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