Six ways to avoid VAT penalties

Six ways to avoid VAT penalties The VAT penalty régime is intended to make more businesses comply with the deadlines for submitting VAT returns, paying VAT and keeping accurate business records. Here are six simple things you can do to help avoid a VAT penalty. Submit your VAT return by the due date. Almost everyone has to do their VAT … [Read more...]

20 things you need to know about VAT – part 1

20 things you need to know about VAT - part 1 One for each percentage point of the VAT rate. This is the first of a number of posts that will go through all 20 topics. Let’s get started. 1. Do you know the registration limits? This is currently £73,000. When the value of your supplies gets to this limit you have to tell HMRC. You can find full … [Read more...]

Fuel Scale charge changes from 1 May 2011

I have added the latest table, as published in the Budget 2011 papers, to the site. Fuel Scale Charge from 1 May 2011 … [Read more...]

Fuel Scale Charges information from 4 January 2011

I have put a page on my website containing the Fuel Scale Charge table that you will need from 4 January 2011. If your VAT period spans the change in rate, and most will, you will need to apportion the Fuel Scale Charge between the pre-increase part and the post-increase part of the period. You can find the pre-increase table on my website. … [Read more...]

Fuel Scale charges from 1 May 2010

For periods starting after 30 April 2010 The fuel scale charge applies to all business cars which are used for private motoring. The following table sets out the fuel scale charges for VAT periods commencing after 30 April 2010. The amount listed under Scale Charge is the VAT inclusive amount. You need to subtract the VAT due to get the … [Read more...]

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