HMRC’s latest Business Brief offers help for businesses that make both VATable and exempt supplies, and have been affected by the pandemic. What’s the full story?
Published 22.04.2021
If your business is partially exempt it isn’t entitled to reclaim 100% of the VAT it pays on certain costs. There are different ways of working out the unreclaimable amount. How can you use them to
reduce your VAT bill?
Published 22.02.2023
A business associate has suggested you use a “special method” for your VAT partial exemption calculation as it saves their business money. When can you use a special method and can it actually lower
your VAT bill?
Published 03.06.2019
As a partially exempt business the amount of VAT you can recover on purchases is restricted unless overridden by the de minimis rules. These can be applied in different ways, but which produces the
best outcome?
Published 13.05.2020
As a partially exempt business you’re required to review the VAT you’ve reclaimed over the previous twelve months and make an annual adjustment. What should you be looking out for to ensure you’ve
maximised your claim?
Published 19.01.2017
If your business makes VAT exempt and chargeable sales, you’ll soon need to make an annual adjustment to the amount you’ve reclaimed on purchases. How can you use this exercise to improve your cash
flow or even reclaim more VAT?
Published 02.05.2012
Where your business makes exempt and VATable supplies, new formulas were introduced last year for calculating the VAT you can reclaim on purchases. These might have saved you money. Is it too late to
go back and use them now?
Published 17.02.2011
An employee has written off his company car. Its insurance value is £8,000. The claim form asks if you’re VAT registered; you are, so you tick the “yes” box. You’ve just lost £1,300! Why and what
steps can you take to avoid this trap?
Published 02.05.2014
You’re thinking of branching out into a new trade to complement the existing one. You’ve incurred costs on research and feasibility but if you decide not to go ahead are you entitled to recover the
VAT paid on these?
Published 30.06.2021
If your business pays for road fuel, it can recover the VAT element relating to business use. There are different methods for working out the amount reclaimable. Which is the best for your business?
Published 06.03.2023