VAT

Have you ever tried calling through to HM Revenue & Customs? If yes, then you would be forgiven for thinking HMRC are too large an organisation to do anything quickly. While HMRC may not be winning any awards for its speedy answering of calls anytime soon, it is most certainly proficient at investigating those they […]

*Featured In The EDP Norfolk Magazine* Renting out properties as holiday homes can be a great way to boost income. However, many people are unsure if becoming VAT registered is a good idea or not. What follows is a brief anecdote highlighting some of the aspects to consider when deciding whether or not to registering […]

Today, the Chancellor of the Exchequer, George Osborne delivered his eighth budget. In this article, we’ll highlight the key points that were announced. Initially, the budget started rather pessimistically, with warnings of ‘storm clouds forming over the global economy’. One of the first things to be mentioned was that growth forecasts for the UK economy […]

We can expect to see a great many changes to taxation management by 2020. There are two key changes HMRC wishes to drive into the current tax system; making tax digital and simple. This blog focuses on how HMRC plans to make tax simple by 2020, to see how tax will be made digital by […]

We can expect to see a great many changes to taxation management by 2020. There are two key changes HMRC wishes to drive into the current tax system; making tax digital and simple. This blog focuses on how HMRC plans to make tax digital by 2020, to see how tax will be made simple by […]

VAT (or value-added tax) is a tax imposed on most goods and services in the UK. There are three rates of VAT; standard, reduced and zero-rated. The differences between these rates are as follows: Standard rate – Currently 20% Reduced – Currently 5% Zero Rated – 0%, of course Goods and services in the UK may […]

In front of a lively audience in the House of Commons today, Chancellor of the Exchequer George Osborne delivered his emergency budget, the first all-Conservative budget since 1996. Our tax consultant has been dissecting the changes; below are the major points from the Budget: The Key Points: New National Living Wage – starting from April […]

The Chancellor delivered his autumn statement to a lively house of commons today, 3rd December.  Far from acknowledging that the economy had gone off track, the Chancellor asserted that whilst the reduction of the deficit was marginally less than forecast for this and next year, in subsequent years it would return to a surplus slightly […]

The Chancellor of the exchequer announced the Budget 2015 at midday today, delivering an upbeat assessment of the nation’s economic outlook and outlining a positive Budget which the Conservatives hope will put them in the commanding position in the pre-election polls. The Chancellor took the opportunity early on to boast about the nation’s growth that […]

If a business sells digital content such as eBooks, downloads and other non-physical resources, VAT will be payable to the country where the service was bought. Whereas before VAT was charged in the country of the supplier. For example, if an eBook is sold to a customer in Spain and one in Italy, the business […]