The UK has a VAT Retail Export Scheme (VAT RES), which means that people visiting from other countries can reclaim the VAT they paid on items they buy here to take home. It doesn’t apply [...]
The first deadline for businesses to file their VAT returns using the new Making Tax Digital (MTD) system was 7th August. And 900,000 of the one million businesses who registered in time, submitted their return [...]
This alliterative, headline grabbing phrase implies that there is a special tax that applies only to tampons. In fact, it refers to the classification of sanitary products in the 5% VAT bracket. For years, women [...]
Ever wondered why cooking chocolate costs less than normal chocolate? It isn’t anything to do with the quality of the chocolate and everything to do with what items are liable for VAT. Relevant VAT rules [...]
The man in charge of the Pure Gym chain, Humphrey Cobbold, makes a good argument for the government to at least reduce the VAT rate payable on gym membership. VAT free gym memberships would [...]
VAT stands for Value Added Tax and it is a tax payable on most goods and services transactions in the UK and EU. Some items and services are exempt, some are liable for a particular [...]
HMRC has launched a new online system to tackle criminals who evade VAT on road vehicles they bring into the UK. Why does HMRC need a new online system? The new system will allow the [...]
New Businesses Advised To Register For VAT Online New businesses are being encouraged by HMRC to choose the online option for registering for VAT rather than the traditional paper alternative. Businesses are being advised that [...]
VAT Late Returns Campaign... Businesses that have failed to submit VAT returns are to be targeted by HMRC. As many as 50,000 will be targeted by HM Revenue and Customs (HMRC) this month with warnings [...]
