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Matching "VAT Return" Tag

4 articles 
VAT records must be kept  for six years although HMRC are only allowed to adjust returns going back four years plus the current period.  However if you have purchased land or buildings you may need to keep relevant documents for 20 years.   But what VAT records do you need to keep?…
Some businesses do not want to become VAT registered because they think it is too complicated to do VAT returns.  It is quite straightforward especially now that VAT returns can be submitted directly from your accounts software. Here are some tips for keeping VAT simple and getting it right.…
How would your business manage if you were suddenly out of action for a period of time? Have you thought what might happen to your business, your customers, your suppliers and your staff? A friend of mine has been taken seriously ill and is unable to think about, let alone do, any of the financial tasks that are part of running her business and it made me think what would happen to my business if this had happened to me. And then I wondered how many other business owners would be prepared for this type of situation. What things would suffer in your business if you were not available to do them?…
If the VAT on your purchases exceed the VAT you have charged on your sales during the VAT period your VAT return will show a refund of VAT due from HMRC. If this is an unusual occurrence for your business you may find that HMRC will …
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