Is there VAT on Rent Deposits?

Is there VAT on Rent Deposits

Generally only commercial landlords have to consider the question of VAT on rent deposits. Residential landlords are outside the scope of VAT and so are unaffected. Question: Is there VAT on Rent Deposit? Answer: There is no VAT on Rent Deposits Let’s look at why. VAT can be one of the most confusing taxes a … Read more

Categories VAT

Can I File a Nil VAT Return

File Nil VAT return

You can file a Nil VAT Return only in certain circumstances.  These are where: Your Business made no sales Your Business made no purchases Even though you have no VAT to pay or transactions to report you must still submit a VAT return as normal. How to File a Nil VAT Return 1 Login Into … Read more

Categories VAT

VAT Global Accounting Scheme Explained

VAT Global Accounting Scheme

The VAT Global Accounting Scheme is only available to certain types of businesses who sell: second-hand goods works of art antiques, or collectors’ items You cannot use the scheme for aircrafts, boats and outboard motors, caravans and motor caravans, horses and ponies, and motor vehicles, including motorcycles. In summary, eligible members of the VAT Global … Read more

Categories VAT