How to avoid VAT on overseas invoicing…

by | Oct 11, 2015 | VAT

If you buy anything from overseas you may get charged VAT (with a percentage that can vary dependent on the country of the supplier). If you are not VAT registered you will have to pay the VAT. To avoid this, first of all, speak to the supplier and see if they can...

How do you account for VAT on charging expenses?

by | Sep 22, 2015 | VAT

This is an interesting area which many clients get wrong. Let’s suppose you are a service business and you do some work for a client which you will charge £1,000 for. To do the work, you have to go to the client’s premises and therefore incur travel expenses. You...

A quick summary on VAT returns….

by | Sep 12, 2015 | VAT

VAT returns are usually quarterly (although you can opt to do them annually). The quarter ends depends on when you first become VAT registered. Your first VAT return can be slightly random e.g. it could be one month or five months! After the first VAT return it will...

Reclaiming VAT on fines and penalties

by | Sep 11, 2015 | Tax, VAT

You’ve probably had in the course of your business, a parking fine. Your accountant has probably told you that they are not tax deductible. Which they are correct – they are not. The good news though is that the VAT position is different, potentially, you...

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