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TAKEAWAY FOOD

Hot pasties taxed!

The VATman has confirmed that all hot takeaway food, including pasties, should now be standard-rated. What does this really mean?

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EXPENSES

Reclaiming VAT on workers expenses

Apart from paying salary to your workers, its likely youll make other financial transactions with them, such as providing benefits-in-kind (BiKs) and reimbursing business expenses. But where do you stand with the Taxman on these?

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VAT NUMBERS

Is that VAT number valid?

The use of false or hijacked VAT numbers is on the rise, yet you could be the one left to pick up the pieces with the VATman. How can you check the numbers of new customers and suppliers?

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INPUT TAX - INVOICES

Always need an invoice?

Youve always believed that to claim back the VAT on a purchase you need to have a valid VAT invoice. But is that strictly true? Or will the VATman allow a claim without one?

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PENALTIES

A proportionate penalty?

In a number of recent tribunal cases the question at issue was whether the default surcharge (late VAT return) penalty was proportionate. So where do we stand now?

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OUTPUT VAT - RETAIL SCHEMES

Special help for retailers

To simplify VAT accounting for retail businesses who deal mainly with cash and credit cards, the VATman has a number of retail schemes available. Whats out there?

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VAT LEGISLATION

Cases roundup

NEW VAT PUBLICATIONS

Latest from the VATman

Last updated: 17.05.2012

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