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VAT

Date: 2nd April 2019 | Post by: HaesCooper | Category: Company Tax Updates & Information, HMRC Updates, Personal Tax Updates & Information
Making Tax Digital – Further Update We at HaeCooper have over the last year kept our clients from all walks of business aware of the Making Tax Digital (MTD) requirements. The introduction of MTD has, over time, been ‘watered down’ to MTD applying from 6 April 2019 for only VAT Returns, for VAT registered businesses,...
Date: 20th April 2017 | Post by: HaesCooper | Category: Company Tax Updates & Information
When you or your employees are out on business, you might incur out of pocket expenses such as car park charges for which you don't receive a proper invoice. Can your company reclaim the VAT? HMRC VAT toolkit In July 2014 HMRC updated its VAT Input Tax Toolkit. It highlights common errors businesses make when reclaiming...
Date: 20th April 2017 | Post by: HaesCooper | Category: Company Tax Updates & Information, HMRC Updates
For years there was only one, potentially fiddly, method to work out the amount of VAT reclaimable where partial exemption applies. However, two alternative tests could make your life easier. How do they work? Partial exemption changes The world of tax doesn’t stand still for long, yet the rules for VAT partially-exempt...
Date: 20th April 2017 | Post by: HaesCooper | Category: Company Tax Updates & Information
From 2015 there will be a new way to calculate VAT where you offer certain types of discount to your customers. What steps must you take to prepare your invoicing procedures for the change? The VAT value of supplies For almost as long as VAT has been around the rules have allowed businesses that offer their customers a...
Date: 20th April 2017 | Post by: HaesCooper | Category: Company Tax Updates & Information, HMRC Updates
During a visit from HMRC you were told that your VAT records weren’t up to scratch and that unless you improve them you could be fined. Is this correct and what exactly do the rules require? Record penalties Over the last few years HMRC has been making a lot of noise about businesses keeping good records. Since 2011 it has...