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About VAT Carousels – Business Advice

In Business, VAT by StevenLeave a Comment

A business that buys and sells goods charges VAT to those to whom it sells and is charged VAT by those from whom it purchases. It can reclaim (subject to various rules) the VAT it pays, and so passes to the Government the net VAT it collects. In this way, a business acts as a tax collector on behalf of the Government. Within the EU VAT, member states …

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Taking the (VAT on) Biscuits! – Business Advice

In Business, VAT by StevenLeave a Comment

VAT is a consumption tax, which means the more you use, the more you pay. Although businesses can often reclaim the VAT they have suffered VAT has a social conscience — it is charged on ‘luxury’ items. By way of example, potatoes are zero–rated (i.e. subject to VAT at 0%) but a packet of crisps includes an extra 20%. Food, as used as an example above, does give rise to a …

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Catch up – Bookkeeping, Tax Returns, Company House Returns, VAT Returns, Payroll Returns | You Should Know This!

In Business, TAX, VAT by StevenLeave a Comment

Having late or outstanding accounts, vat, tax, paye returns is never a good idea, besides from the obvious breaking the law issue, penalties, interest charges, likelihood of high assessments and of cause the threaded tax inspection, having no or out of date accounts means that you do not have proper information on which to make management decisions and therefore run …

Watch out for this ‘invoice’ email scam

In Business, TAX, VAT by StevenLeave a Comment

Watch out for this ‘invoice’ email scam Criminals are sending emails with attachments claiming to be invoices containing malware. This can then be used to access information stored on your computer – you need to be very wary of emails that claim to contain invoices, even if they appear to be from trusted sources Financial Fraud Action UK  warned that crooks …