VAT


Making sense of the mysterious world of VAT


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Letter
If you acquire the trade and assets of a business as a transfer of a going concern (TOGC), you can apply to keep a pre-existing VAT registration number. TOGC When you buy a business as a TOGC you have the option of taking over the existing VAT number... Read more
UPDATED08 Feb 2018
Credits: 1
doc
Letter
If you have a VAT problem and can't find the answer in any of HMRC's published guidance, you can ask it for a written ruling. However, HMRC is often reluctant to provide one and it usually directs you to its guidance. To ensure you obtain the written a... Read more
UPDATED31 Jan 2018
Credits: 1
doc
Checklist
Making a mistake on your VAT return will result in under or overpaying VAT. This might mean losing out on VAT you can reclaim or underpaying which can result in financial penalties. Our VAT return checklist can help you reduce errors. What to put on ... Read more
UPDATED31 Jan 2018
Credits: 1
doc
Letter
HMRC operates a VAT internal review system to resolve disputes without the time or expenses involved with a formal appeal. If you wish to use this facility you should apply in writing to HMRC within 30 days of the assessment or decision with which yo... Read more
UPDATED19 Jan 2018
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Letter
If your business is VAT registered, you could be eligible to use the flat rate scheme (FRS) to simplify your accounting. Use our letter to accompany your claim. VAT reporting The amount of VAT your business normally must account for to HMRC is the di... Read more
UPDATED22 Dec 2017
Credits: 1
doc
Letter
If your business completes VAT returns, you could be eligible to join the annual accounting scheme to simplify your reporting. Annual accounting The annual accounting scheme allows for the submission of a single VAT return for the whole year, rather ... Read more
UPDATED01 Dec 2017
Credits: 1
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Letter
Letter requesting partial exemption special method Could your partially exempt business be paying excessive VAT when you consider how the different activities really contribute to general costs? Use this letter to ask for a unique method of apportion... Read more
12 Oct 2017
Credits: 1
doc
Letter
If you exercise the option to tax a commercial property for VAT purposes it is irrevocable except in a few situations. If you do want to revoke the option, use our letter to help ensure that you send the correct documents and information to HMRC so t... Read more
12 Apr 2017
Credits: 1
doc
Checklist
If you miss the deadline for submitting your return or paying your VAT, you may be liable to pay a surcharge. Our checklist will help you avoid this type of trouble. Online submission Since 1 April 2012 all businesses with a few exceptions, essential... Read more
09 Jun 2015
Credits: 1
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Letter
Option to tax letter Renting out land or buildings is usually exempt from VAT. This means you don't charge VAT to your tenants. The downside is that you might not be entitled to reclaim VAT on your property running expenses. By "opting to tax" the prope... Read more
11 Feb 2015