It can be confusing to know what you can claim back VAT on when someone who does work for you recharges you for some of their costs. This article explains how to work out when you can recover VAT and when you are not able to.
Businesses which import goods for business use have been able to use Postponed VAT Accounting since January 2021. Postponed VAT Accounting enables you to both declare and recover VAT on the same VAT return instead of
IPT is an abbreviation for Insurance Premium Tax and is charged by insurers in addition to your insurance policy. The rate charged can be 12% or 20% depending on the type of insurance you are buying.
If you are in business you need to keep a record of your income and expenditure and whilst you know what you are selling, receipts or invoices from the businesses you buy from are evidence of what you have bought.
Are you burying your head in the sand? If your business deferred paying VAT between March and June 2020 and have not yet
