If you work in the construction industry there VAT change you need to know, which is due to take effect from October 2019. HM Revenue and Customs has introduced the Domestic Reverse Charge (DRC) as part of new anti-fraud rules to combat VAT fraud in construction sector labour supply chains. … [Read more...]
VAT – treatment of colouring and dot-to-dot books
At the end of 2016 HM Revenue and Customs Brief 17/2016 setting out it policy, effective from 1 April 2017, on the VAT treatment of colouring and dot-to-dot books, many of which are specifically labelled as suitable for children and/or adults. From 1 April 2017, HM Revenue and Customs … [Read more...]
Incorrect use of the VAT Flat Rate Scheme
The VAT flat rate scheme is easy to use and is a scheme that allows small businesses to calculate and pay their VAT based on a flat rate percentage of total takings rather than deducting that from the total output tax on sales in the period. HM Revenue and Customs are finding out that … [Read more...]
