VAT

(Click here to download Factsheet as PDF file)

Contents:
VAT Registration
  • Registration
  • Deregistration
  • Group registration and divisional registration
  • Artificial separation of business activities
Types of Supply
  • Zero-rated and reduced-rated sales
  • Exempt sales and mixed supplies at different rates of VAT
  • Land and property – liability of supplies involving buildings
  • Option to tax
  • Construction services
  • Charities
Accounting for VAT
  • Supply of goods and services – including invoicing issues and bad debts (incorporating recent VAT rates changes)
  • Schemes for small businesses – cash accounting and annual accounting schemes
  • Flat rate scheme
  • Retail and second hand margin schemes
  • DIY refund scheme
  • Supplies involving agents
  • Selling a business as a going concern
Input Tax
  • Input tax – including cars, motor expenses and business entertainment
  • Partial exemption
  • Capital goods scheme
International VAT
  • Import of goods (including acquisitions from EU countries)
  • Joint and several liability (Missing Trader Fraud)
  • Export of goods (including sales to EU customers)
  • International services – place of supply
  • International services – other issues
  • Overseas traders – including 8th and 13th Directive claims
Penalty Regime
  • Best judgment and unjust enrichment
  • Errors and interest charged on errors
  • Penalties
  • VAT visits by HMRC
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Testimonial

“The coverage within each area is very compre-hensive – within VAT, for example, I could not find a major topic that was NOT covered.

The supporting Tutorials and Practice Notes are also comprehensive.

The amount of content is simply huge, and at the same time of uniformly high quality.

A lot of care has been taken to ensure consistency in style, language and presentation, which makes it very easy to use.”

Nigel Harris BA CTA FCPA, Associate,
Burton Sweet, Chartered Accountants & Business Advisers