The VAT Annual Accounting Scheme is available to most businesses with an annual turnover of up to £1.35 million. Key
Register for VAT One Stop Shop Scheme
The VAT Import One Stop Shop (IOSS) Scheme applies to goods imported in consignments with a value of £135 or less (known
Business VAT responsibilities
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000.
Are mega sized marshmallows zero-rated?
In the UK most basic food stuffs are zero rated. However, the definition of ‘basic’ is not straightforward and many of
How to check a UK VAT number
The online service for checking a UK VAT number is available at: www.gov.uk/check-uk-vat-number.
This service can be
Reclaiming pre-trading VAT
There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This
Are we unpaid tax collectors?
Business owners often refer to VAT as if it were a cost to their business regardless of their VAT position; whether they
Correcting errors in VAT returns
Where an error on a past VAT return is uncovered businesses have a duty to correct the error as soon as possible. As a