Business VAT responsibilities
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT
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 the foods are zero rated as a result of historical legislation dating back to the
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 used to check:
if a UK VAT registration number is valid; and
the name and
Reclaiming pre-trading VAT
There are special rules that determine the recoverability of VAT incurred before a business registered for VAT. This type of VAT is known as pre-registration input VAT. There are different rules for
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 are registered for VAT or not.
If you are not registered for VAT, you do not
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 general rule, any necessary adjustment can be made on a current VAT return. To do
VAT reverse charge for builders
There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most construction services
Check a VAT number
The check a UK VAT number service 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
VAT boost to charitable donations
The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed to encourage businesses to donate everyday items to
VAT retail schemes
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items
