Articls under : vat

VAT – CROSS-BORDER ISSUES

bizitalk130 Mar 20170 comments

by Les Howard The rapid growth of the internet coupled with the European Single Market means that many businesses buy and sell cross border. The rules do not exclude such transactions from VAT. Howev...

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VAT JARGON: SALES – OUTPUTS AND OUTPUT TAX

bizitalk101 Mar 20170 comments

VAT Advice

Outputs are sales, and output tax is VAT due on sales. The standard VAT rate is 20%, which applies to most supplies of goods or services. There are also some sale...

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VAT BASICS – REGISTRATION, RETURNS & PENALTIES

bizitalk112 Feb 20170 comments

If you are in business, VAT is something you will have to address, whether you are registered or not. VAT can be a significant burden to you, or it can be something that actually helps your c...

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VAT JARGON: PURCHASES – INPUT TAX

bizitalk112 Jan 20170 comments

Inputs are purchases, so input tax is VAT on purchases which you are allowed to reclaim. It is, of course, your suppliers’ output tax. Can I reclaim VAT from before I was registered? More

VAT JARGON: MAKING LIFE A LITTLE EASIER – VAT SCHEMES

bizitalk102 Jan 20170 comments

HMRC have a number of special VAT schemes which are designed to reduce administration, but can also reduce or defer the VAT due. Probably more than half of all registered businesses are eligible for o...

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