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Posts Tagged ‘VAT’

VAT Registration tips and hints

FORWARD LOOKING TEST The main VAT registration test for an unregistered trader is based on traders checking historic sales on a rolling twelve-month basis to ensure they have not exceeded £85,000. But there is also a second test to consider. You must register for VAT if your forecast taxable sales exceed £85,000 in the next…

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Victory at a VAT Tribunal

Angus Nicolson recently represented a client at a VAT Tribunal.  The following is an anonymised account of what happened. The agent told the taxpayer that they should have been registered for VAT much earlier; and they, the agents, had failed to notice this when preparing the previous accounts and tax return. A registration application was…

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VAT on internet sales inside the EU

Overview of VAT on internet sales If your business has supplied digital services to consumers in the EU, you can register for HM Revenue and Customs’ (HMRC’s) VAT MOSS scheme if your business is: based in the UK (union VAT MOSS scheme) a non-EU businesses (non-union VAT MOSS scheme) You can submit a single calendar…

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VAT complexities

VAT complexities All too often VAT is assumed to be straight forward and simple by those who have been registered for some time, and who forget the complexities that can easily arise. It is important never to become complacent about VAT, and to read the notes and updates that are issued by HMRC, and to…

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