VAT flat rate scheme – is it worthwhile?

The amount of VAT a business pays or claims back from HMRC is the difference between the VAT charged by the business to customers and the VAT the business pays on their own purchases. If a business is part of the flat rate scheme it will: pay a fixed rate of...

Making a formal complaint against HMRC

Sometimes a taxpayer may find themselves in a position whereby HMRC seem to be taking an inordinate amount of time to settle a particular issue or the service received as a 'customer' does not meet the standards expected or even that they feel they are being discriminated against. Although complaints...

VAT – Reduced Rate Of 5%

The government made an announcement on 8 July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies relating to: hospitality hotel and holiday accommodation admissions to certain attractions. The temporary reduced rate will apply to supplies that are made between 15 July 2020...

VAT refunds for DIY builders

If you build your own house or convert an existing property into a home, you may be eligible to apply for a VAT refund on building materials and services. You do not need to be VAT registered to claim a refund. what qualifies? Refunds can be claimed in respect of building materials...

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