When can you recover VAT on a car purchase
Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover VAT unless the car is used exclusively for business purposes. But there are exceptions—like
VAT Reverse Charge in Construction: What You Need to Know
Navigating VAT in the construction industry can feel like untangling scaffolding. Enter the VAT reverse charge—special rules that mean sub-contractors no longer charge VAT on services but
VAT Flat Rate Scheme overview
The VAT Flat Rate Scheme allows businesses to pay VAT as a fixed percentage of their total turnover, which includes VAT. The applicable percentage varies based on the business type. This scheme is
Approaching the VAT registration threshold
When approaching the VAT registration threshold there are important matters to consider. The VAT registration threshold is the point at which businesses must register for VAT with HMRC.
A business
VAT recovery from car leasing payments
The VAT treatment of motor expenses is an important concern for any business that incurs VAT on these costs. Below, we highlight key points to consider regarding the recovery of input tax (VAT) when
Construction industry – VAT reverse charge
There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply of most
When you must register for VAT
The taxable turnover threshold for VAT registration is currently £90,000 and has applied since April 2024.
Businesses must register for VAT if they meet one of the following conditions:
At the end
VAT group registration
There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies corporate’, to be treated as a single taxable person for VAT purposes
Late filing penalties VAT returns
The VAT penalty regime that applies to the late submission and / or late payments of VAT returns changed for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are
More detail on VAT charge on private school fees
More details have been published regarding Chancellor Rachel Reeves’ plans to impose a VAT charge on private school fees. The government has said that the money raised by ending the tax breaks on VAT,
