This is a common occurrence with all types of businesses whether you have not long started or have been trading for several years. As the owner your focus is often on marketing your business, making sure revenue is coming in so bills can be … Continue reading Case Study: What Happens If You Exceed The VAT Threshold?
Q: My client is an independent mortgage advisor, who is not VAT registered. Her turnover is above £85,000 and all of her income is either commission, which is paid by UK lenders, and flat fees received from customers seeking a mortgage. In the last … Continue reading VAT Question Of The Week – Financial Intermediaries
Q My client is an amateur dramatic society operating via a company limited by guarantee. They own their own premises and charge admissions to their productions. The admissions have grown to £80,000 in the last 12 months, and alongside … Continue reading VAT Question Of The Week – Cultural Admissions
Accountants and tax advisers have been able to view the VAT registration certificates of their clients listed in the old Government Gateway account (GGA) for many years. Businesses have been able to view them in the Business Tax Account (BTA). But … Continue reading HMRC removes online VAT registration certificates
A client is about to register for VAT and wants to use the flat rate scheme as she meets the conditions and it would be beneficial to her. However, her intention is to register for normal VAT initially, in order to recover pre-registration input … Continue reading VAT Question Of The Week – Flat Rate Pre-Registration VAT
Our client runs a Café, and de-registered for VAT back in May 2018, claiming they believed their turnover would not exceed the deregistration threshold of £83,000 over the following 12 months. This was due to a slump in trade because of a local … Continue reading VAT Re-Registration Required or Not?
To move goods into or out of the EU you need an Economic Operator and Registration Identification (EORI) number. HM Revenue and Customs (HMRC) uses this number to identify you and collect duty on your goods. You may have increased costs … Continue reading VAT Dealing with EU