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...]

A salutary tale for the new business…

Remember to check your turnover every month if you are close to the VAT registration limit... Why? I had a phone call yesterday from a tax adviser. They had a client who had gone over the registration limit, albeit briefly, three years ago. The client decided to take no action as they expected their turnover to fall below the registration limit … [Read more...]

VAT Registration limits – updated for 2009

When your turnover in the past 12 months has exceeded the registration limit, or you expect that in the next thirty days it will be more than the registration limit. You may cancel your registration when your turnover has fallen below the VAT Deregistration limit, or can show it will fall below the limit in the coming 12 months. The … [Read more...]

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