by Admin | Nov 10, 2022 | Value Added Tax
The ability to check a UK VAT number is available at: www.gov.uk/check-uk-vat-number. This service allows users to check: if a UK VAT registration number is valid; and the name and address of the business the number is registered to. The service also allows UK...
by Admin | Oct 27, 2022 | Value Added Tax
A new VAT registration process known as the VAT Registration Service or VRS was made available to agents from 1 August 2022. The VRS had been in testing mode for the previous 18 months and was used by over 37,000 businesses to successfully register for VAT. One of the...
by Admin | Oct 20, 2022 | Value Added Tax
Using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce...
by Admin | Oct 13, 2022 | Value Added Tax
The Making Tax Digital (MTD) for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of £85,000 became mandated to keep their records digitally and provide their VAT return information to HMRC using MTD compatible software....
by Admin | Oct 6, 2022 | Value Added Tax
The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated fraud. UK businesses receiving certain specified goods and services are liable to account for UK VAT, by way of the...
by Admin | Oct 6, 2022 | Value Added Tax
Taxpayers that are owed VAT repayments by HMRC are entitled to claim statutory interest under certain circumstances. Where this is the case, a claim should be made in writing to HMRC. VATA s78 (11) requires all claims for statutory interest to be made within four...
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