Most Recent Issue
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?
More...EXPENSES
Reclaiming VAT on workers’ expenses
Apart from paying salary to your workers, it’s likely you’ll 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?
More...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?
More...INPUT TAX - INVOICES
Always need an invoice?
You’ve 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?
More...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?
More...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. What’s out there?
More...
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