VAT / January 20th 2020

What is the Flat Rate VAT scheme?

Something you may not be aware of as a business owner is the presence of multiple VAT schemes. The flat rate VAT scheme is one of them. The flat rate VAT scheme is a simplified version of VAT where instead of claiming VAT on purchases and payi

The UK will soon be leaving the European Union. While the details and timings of Brexit remain a topic of parliamentary debate, at this stage it appears the UK will leave one way or another. There is a high chance that the UK will be leaving the E

A number of our clients that operate VAT groups have been enquiring whether Sage 50 will be able to manage the submission of group VAT under Making Tax Digital (MTD). You will be pleased to know that it can via the MTD submission module.  You wil

Quite simply, the MOSS system is a simplified way to declare and pay the VAT you owe across the EU in one place, normally in the country where you are also established, and VAT registered. As is always the case with VAT, the detail is somewhat mor

A typical situation exists where a foreign ecommerce company needs to segment its payment processing in order to protect its ability to collect money from its clients. Reasons for doing so vary: Spreading the chargeback risks across a number of

Of all the taxes in the UK, most of all newly incorporated business are interested in finding out more information regarding VAT (or Value Added Tax). When you operate a business, it is important to understand the rules, requirements, possible adv

Businesses that operate in the UK and have “taxable supplies” are only required by law to be VAT registered broadly if they turn over £83,000 per annum. This means that very small businesses do not need to be VAT registered, although they are en

Okay you have got your brilliant idea and have set up your company as this is the way you are going to make it big. But now you are a director there are certain obligations under company and tax law that you are going to need to comply with. (mor

The alternative lending business contains a number of specific tax issues and opportunities and it is understanding these, planning accordingly and meeting the compliance requirements that are going help you to minimise your tax liabilities. (more&he

Do I fancy that slice of birthday cake your colleague just bought into the office? Or do I fancy just one more biscuit to dunk in my morning tea? (more…)