The VAT treatment of motor expenses is an important concern for any business that incurs VAT on these costs. Below, we highlight key points to consider regarding the recovery of input tax (VAT) when leasing vehicles.
We
There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply of most construction services between
The taxable turnover threshold for VAT registration is currently £90,000 and has applied since April 2024.
Businesses must register for VAT if they meet one of the following conditions:
At the end of any month, the
There are special VAT rules that allow two or more companies or limited liability partnerships, commonly referred to as ‘bodies corporate’, to be treated as a single taxable person for VAT purposes known as a VAT
The VAT penalty regime that applies to the late submission and / or late payments of VAT returns changed for VAT return periods beginning on or after 1 January 2023. Under the new regime, there are separate penalties for
More details have been published regarding Chancellor Rachel Reeves’ plans to impose a VAT charge on private school fees. The government has said that the money raised by ending the tax breaks on VAT, and business rates