Overview HMRC recently provided an update of their VAT deferral scheme. This note summarises HMRC’s guidance, You can read the guidance in full here. The VAT deferral scheme Basically, if you deferred VAT payments at the start of COVID (between 20 March and 30 June 2020) and you still have payments to make, you can […]
Find out moreOverview From 1st January 2021 (post Brexit) new rules apply for accounting for import and export VAT. This has made recording imports and exports on Xero quite a lot harder. This note explains some of the new rules and how to record import and export transactions in Xero. You can see a similar note for […]
Find out moreOverview From 1st January 2021 (post Brexit) new rules apply for accounting for import and export VAT. This has made recording imports and exports on QuickBooks quite a lot harder. This note explains some of the new rules and how to record import and export transactions in QuickBooks. You can see a similar note for […]
Find out moreOverview The aim of this note is to explain some of the new VAT rules that overseas sellers will need to follow after Brexit. In this context an overseas seller is a business that is established outside of the UK and doesn’t have an establishment within the UK. The changes are reasonably complex because there are […]
Find out moreHealth tourism and VAT The health tourism business is an interesting area because it combines three types of VAT supplies: exempt services (the provision of health services is usually an exempt supply) standard rate services (for example, commissions charged) TOMS services (for example hotels & the like) This note looks at some of the issues […]
Find out moreLand-related services and installed and assembled goods The purpose of this note is to provide some clarity on some overseas VAT aspects for land-related services and installed and assembled goods Situation 1 – Italian established business provides land-related services Italian Co is an Italian established company that provides building services in the UK Co). Italian […]
Find out moreTypes of VAT registration in the UK This note describes the two types of UK VAT registration: Compulsory registration – when you must register for UK VAT Voluntary registration – when you may register for UK VAT if you wish Businesses based in the UK By based in the UK I mean that you have […]
Find out moreReclaiming EU VAT paid in the UK UK VAT registered businesses can use the UK VAT refund scheme to reclaim the VAT that the business has paid in other EU countries, providing that the business: is not VAT-registered in the other EU country; or does not have a place of business in the other country; […]
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