What is VAT and who needs it?
How do changes in the flat-rate scheme may affect your tax calculation?
How to get ready for Making Tax Digital for VAT?
Get clarity about your VAT questions and stay up to date with future developments.
For some contractors and freelancers, the Flat Rate VAT scheme is a no-brainer. The scheme allows them to reduce tax costs they otherwise could not have reclaimed via standard VAT, and it considerably simplifies bookkeeping. Hence, saving […]
Making Tax Digital (MTD) for VAT is the Government’s first phase in what they believe is making tax administration more effective, efficient and easier for taxpayers. The Government has said that one of the main […]
How is flat rate VAT calculated? Traditionally, contractors have always benefited from registering on the flat rate scheme. This is because VAT would be collected on a sales invoice at 20%, but a lower percentage […]
From 1 January 2015 onwards, the way VAT has to be applied when specific ‘digital services’ are supplied to EU customers is changing. This only impacts services provided by a business to consumers (B2C), not […]
The flat rate scheme (FRS) for VAT works well for businesses that have few expenses which incur VAT. This is why for contractors, it tends to be the most beneficial scheme to be on. Under […]