VAT news - May 2016

Welcome to our VAT blog area – we talk about the things that are important to our clients and the essential VAT information we think you need to know.
You can connect with us by sharing posts, adding comments or getting in touch to talk about VAT issues that are important to you.

partial exemption method

An introductory guide to VAT Partial Exemption

Ryan Bevan 26 May 2016 No comments

  VAT is consumption based tax and is designed to have a dual purpose – it is both incurred from vendors and suppliers of goods and services and also charged by taxable persons on its taxable supplies where applicable under the VAT legislation. Consequently, there are two broad types of VAT – Input VAT which…

VAT Training

How VAT Training can improve your business

Ryan Bevan 24 May 2016 No comments

Invest in VAT knowledge: Why VAT training is more important than ever How much training and support on VAT matters is provided to staff in your business? The profile of VAT has been rising steadily in recent years and that trend looks set to continue for the foreseeable future. Public interest in and media coverage…


Stay on top of your VAT compliance

Ryan Bevan 18 May 2016 No comments

  Avoid VAT Penalties for late filings of VAT Returns   Staying on top of your UK VAT compliance obligations is important for businesses to avoid unnecessary and unwanted penalties and increased scrutiny from HMRC. Penalties exist within the VAT system for VAT errors, late or non-submissions of VAT Returns, late payments of VAT liabilities…


5 important tips to avoid paying too much VAT

Ryan Bevan 10 May 2016 No comments

5 common irrecoverable VAT errors   One of the most commonly asked questions from our clients is ”how can I pay less VAT?”. Well, we can’t necessarily reduce the amount of VAT paid (you have to charge VAT when it’s within the law), but we can optimise the amount of VAT recovered. As well as…

EU VAT system

What lies ahead for VAT?

Ryan Bevan 4 May 2016 No comments

  On 7 April 2016, the European Commission presented its “Action Plan on VAT” in which it set out steps for creating a single EU VAT area with a view to modernising the current VAT rules and addressing certain disadvantages of the VAT system. In the Action Plan the Commission stated that the VAT system…