How to Complete Your First VAT Return

how to complete your VAT return

Inside this guide, you’ll find some handy tips to help you complete your first VAT return. You’ll find out when it’s due by, how to find the numbers you need and how you send your completed VAT return to HMRC.

VAT Rates

vat rates

Understand the three UK VAT rates and when they apply depending on the type of product or service being sold.

Reclaiming VAT on Cars

reclaiming vat on cars

Find out how reclaiming VAT on cars works depending on how you’ve purchased your vehicle (including if it is a used car, brand new or commercial vehicle) and how much VAT can be claimed back, as well as what happens if you use your vehicle for personal as well as business.

VAT Schemes Explained

vat accounting schemes explained

HMRC have launched various different VAT schemes, which businesses can opt into if they feel it will bring benefit. Although it can make things confusing when it comes to choosing the best, they are designed to help with cash flow and reducing administration. In this guide, you’ll find some of the most common VAT accounting schemes, along with the pros and cons of each.

5% VAT Cut for the Hospitality and Tourism Businesses

VAT Cut for the Hospitality and Tourism Businesses

Have you heard about the recent excitement around MacDonalds slashing their prices?,Thats because the Chancellor has announced a temporary VAT cut from 20% to 5% for hospitality and tourism businesses. The temporary reduction is in place from 15 July 2020 to 12 January 2021.

What is the Tax Point of a VAT Invoice?

what is the tax point of an invoice

The tax point of an invoice is the date used for VAT purposes to determine the date that VAT must be charged and which VAT quarter it gets included in. Here are the most common scenarios and the tax point to use.

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