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Tax for Companies / October 24th 2014
What is the VAT filing deadline?For businesses that are registered for VAT, there are two parts of dealing with filing for VAT, filing of the VAT return and payment of the VAT liability due. All businesses will need to file VAT returns. Most businesses will need to file a VAT return on a quarterly basis, however annual reporting is also possible in rare circumstances. The VAT return due date will depend on a number of factors. Your VAT quarter will be assigned to you by HMRC. It can in fact be any month end and as a result will not automatically coincide with calendar quarters. Should you wish, it is normally possible to change your VAT quarter by filling in the relevant HMRC form. These rules mean that you will be required to submit your VAT return no later than 7th of the month, in the second month after your VAT period ends. This must be submitted online. For example, a VAT period ending on 30th September will mean the VAT return is due by 7th November. For more information on VAT, please contact Wisteria’s tax team on 020 8429 9245.
Read ArticleTax for Companies / October 24th 2014
For businesses that are registered for VAT, there are two parts of dealing with filing for VAT, filing of the VAT return and payment of the VAT liability due. All businesses will need to file VAT returns. Most businesses will need to file a
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Tax for Companies / September 18th 2014
As a VAT registered business, there are a number of advantages and disadvantages (see here). There may come a time however where your business will soon cease to trade or you may feel that the time has come to cancel your VAT registration. Alternativ
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Tax for Companies / September 16th 2014
Value-Added Tax (VAT) is one of the most complicated taxes that is charged on the sale of a final good to the consumer. It is a form of sales tax which is charged across the European Union (EU). Even though VAT may be charged on goods and services wi
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Tax for Companies / September 12th 2014
VAT registered businesses that supply goods and services may have to complete an EC Sales List (ESLs). Another system for collecting statistics on the trade of goods between EU member states is called Intrastat. The movement of goods between member s
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Tax for Companies / September 10th 2014
When your taxable turnover exceeds the £81,000 threshold, it becomes compulsory to register for VAT in the UK. Those companies whose turnover does not exceed this threshold can voluntarily register for VAT. As a VAT registered busin
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Tax for Companies / August 28th 2014
When you operate a UK business, selling goods to the EU may be a positive sign of growth and success for your business. It is very important that you understand the rules and requirements on how to account for these sales because cross-border transac
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Tax for Companies / October 31st 2013
Corporation tax is payable by UK Companies on their profits. The rate of tax starts from 20% and rises to 24% (although the marginal rates can exceed this). The rate of tax paid by a business depends on the level of profits. The lowest rate of
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Tax for Companies / August 8th 2013
Many businesses worry about the tax issues associated with staff entertainment. From a corporation tax perspective, a company is allowed to spend any amount on staff entertainment, on the basis that it is for the purposes of their trade. There are ot
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