Business Advice Directory
More than 12,000 ready-to-use business solutions.VAT
Advice that will help you steer a safe path through the minefield of VAT legislation
VAT: E-mail services
Featured advice
VAT
Avoiding the VAT registration cliff edge
Although the Chancellor announced an increase to the VAT registration limit in the Spring Budget 2024, it was relatively modest. As a service business if your turnover exceeds the new limit can you legitimately avoid having to register?
MAKING TAX DIGITAL
New guidance on penalties for volunteers
Making Tax Digital for Income Tax Self Assessment is still two years away, but some of your clients may have signed up early on a voluntary basis. HMRC has now published guidance regarding how these testers will be subject to penalties. What are the key points?
INVOICES
Do you always need to issue a VAT invoice?
Your business is making more low value sales to a wider range of customers following a change in your business model and trading activities. What sales can you make without issuing a tax invoice and what must you do instead?
VAT
Practical tips for partial exemption
As your business is partially exempt for VAT purposes it’s required to make fiddly adjustments to its bookkeeping records when preparing VAT returns. How can you simplify these to save time and effort?
CONNECTED PARTIES
Family loyalty: is your generosity causing a VAT problem?
A close relative has set up a new business that is not VAT registered. To help, you have agreed to pay their supplier of advertising services all costs for one year and claim input tax on your own returns. Has your generosity created a connected party problem?
VAT
How, when and why should you opt to tax a property?
Opting to tax a property began in the 1980s following an EU ruling to override UK VAT rules. The main effect is that you must usually charge VAT when you make supplies of the property, e.g. charge rent, but why should you bother opting?
