Most VAT-registered businesses understand the importance of keeping accurate records when reclaiming input VAT. Unfortunately, suppliers do not always issue invoices that meet HMRC's requirements. Missing VAT numbers, incomplete descriptions, or incorrect customer...
VAT and agents can create a real head scratch. You may collect money for somebody else, deduct a commission and pass the balance across. But whose sale is it? Who accounts for VAT? Does the whole amount belong in your turnover, or just your fee? The answer depends on...
VAT registration impact can be felt across your pricing, profit, cash flow, records and business processes. Once your business becomes VAT registered, you are no longer only selling goods or services. You also collect VAT for HMRC, review how customers respond to...
VAT responsibilities begin when your business becomes VAT registered. You are no longer just selling goods or services. You are also collecting VAT for HMRC, charging the right rate, keeping proper records, checking supplier invoices, dealing with reverse charge VAT...
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