9 Common VAT Pitfalls to Avoid

9 Common VAT Pitfalls to Avoid

Whether you are newly registered for VAT or you have been registered for a while – be aware of these 9 common VAT pitfalls. These are the most frequent errors we see when we are reviewing small business VAT returns. 1. Heavy penalties from failing to plan for...
Why register for VAT?

Why register for VAT?

Updated 31/05/2017 You are legally obliged to register for VAT when your business ‘taxable supplies’ within a rolling 12 month period exceeds the VAT threshold.  As of 1st April 2016, the VAT threshold was £83,000. This increased to £85,000 from 1st April 2017. The...
Information required on a VAT invoice

Information required on a VAT invoice

In very simple terms invoices or receipts tell a customer what they have bought from you and whether it has been paid for or is still to be paid. What must you include on your invoice? Once registered for VAT, you must show the following details on any VAT invoice you...

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