Value Added Tax

IndividualsLimited CompaniesSole Traders & Partnerships

Read our summary of the Spring Budget 2024, with changes to National Insurance, Child Benefit and second homes…

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Limited CompaniesSole Traders & Partnerships

Conducting year-end work can be difficult to prioritise. Read through our ten strategies that can make your year-end process a more seamless.

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Limited CompaniesSole Traders & Partnerships

Have you increased the value of your goods, supplies or labour, to maintain your profit margins? If so, and you are not already registered for VAT, you will need to keep a close eye on your turnover. You might go over the VAT threshold without realising it.

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IndividualsLimited CompaniesSole Traders & Partnerships

For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.

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Limited CompaniesSole Traders & Partnerships

If not, but you are voluntarily registered for VAT because your annual turnover is below £85,000, you will need to sign up for MTD

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Limited CompaniesSole Traders & Partnerships

Currently, VAT registered businesses with a taxable turnover of more than £85,000 must follow the rules for ‘Making Tax Digital for VAT’ (MTD) by

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Limited CompaniesSole Traders & Partnerships

The rules for deciding whether a gift given in the course of business is deductible are complex. The rules for business gifts generally follow

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Limited CompaniesSole Traders & Partnerships

Maybe – maybe not! In certain circumstances special ‘transfer of a business as a going concern’ (TOGC) rules apply and the sale will not

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Limited CompaniesSole Traders & Partnerships

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where

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Limited CompaniesSole Traders & Partnerships

It is well over a month since the implementation of a full border between the UK and the EU. Because of the pandemic, trade

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Limited CompaniesSole Traders & Partnerships

INTRODUCTION New VAT rules are due to come into effect from March 2021 which will impact on accounting for VAT for transactions in the

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Limited CompaniesSole Traders & Partnerships

A voluntary VAT deregistration can be made if you do not expect your taxable turnover to exceed the VAT deregistration limit. The current deregistration limit is £83,000.

If you are running a small business that has been adversely affected by

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