Recently published updates to VAT Notices – March 2014

Recently published updates to VAT Notices Electronic Invoicing HMRC has published an updated version of [Notice 700/63: Electronic Invoicing][notice1] dated March 2014 to replace the June 2007 edition. HMRC says this about the updated notice: It has been updated to reflect the changes in invoicing regulations of 2013. It also contains revised … [Read more...]

Notes for the business that has yet to register for VAT

Notes for the business that has yet to register for VAT This article gives you an idea of the things you need to look at when considering the impact of VAT upon your business. What do you supply? And what is its VAT treatment? It is important to know whether what you supply attracts VAT at one of the applicable rates of VAT. These are zero-rate … [Read more...]

The perils of failing to ask for a VAT invoice

The perils of failing to ask for a VAT invoice There was a company that was making a good profit by sourcing desirable consumer items like tablet computers, smartphones, etc. that were in short supply. It was unable to get these products by buying from the suppliers because there was such high demand for them that supplies were limited. Most … [Read more...]

Notes for the newly registered business – Part 2

Notes for the newly registered business This is the second post in this series. Last time we looked at definitions. Now lets move on to accounting for VAT. Accounting for VAT How to get ready to do your VAT return Preparing to do your VAT return is something that you should do regularly during each VAT period. This means that you need to … [Read more...]

New Invoicing rules in the UK

HMRC recently announced that the change in rules affecting invoicing in the UK had been deferred to 1 October 2007. They have subsequently issued more detailed guidance on what a business has to do to meet the new requirements. This is in Information Sheet 10/07 - Changes to VAT invoicing with effect from October 2007 - which can be found on HMRC's … [Read more...]

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