Postponed VAT Accounting
VATBusinesses which import goods for business use have been able to use Postponed VAT Accounting since January 2021. Postponed VAT Accounting enables you to both declare and recover VAT on the same VAT return instead of
Businesses which import goods for business use have been able to use Postponed VAT Accounting since January 2021. Postponed VAT Accounting enables you to both declare and recover VAT on the same VAT return instead of
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. &…
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. &#…
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 mi…
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 w…
