Time to Pay - Your VAT bill
HMRC have now made it easier to set up a time to pay arrangement which you can do through your online VAT account. There are, of course, provisos to setting up this arrangement online. …
Paying in Advance - How is VAT applied?
Some businesses may request a payment in advance for goods or services.If you are VAT registered it is important to know when you can claim back VAT on an advance payment. This is generally determined by the tax point which is either the date of the invoice or the date money is received. Here are six examples of different types of advance payments and how they are treated. …
VAT - Did you know .....
When you become VAT registered there are several things you should be aware of. …
Flat Rate VAT Scheme
When you registered to become VAT registered you will have the option to choose the Flat Rate Scheme. It is worth considering whether this is a suitable scheme for your business because their are benefits to using it in your first year of VAT registration. …
Did you know there are different VAT schemes a business can use?
If you are VAT registered you may not know that there are different ways to report your VAT to HMRC. It is worth understanding each of the schemes …
