All posts in VAT

Scottish Budget 2017 Finance Secretary Derek Mackay delivered the 2018/19 Scottish Draft Budget on Thursday 14 December 2017 setting out the Scottish Government’s financial and tax plans. The announcement had been timed to take place after Chancellor of the Exchequer Philip Hammond delivered the UK Budget on 22 November 2017 in order to avoid ‘fiscal […]

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How does the flat rate VAT scheme work? There are numerous different VAT schemes available to companies, depending on financial profile. In order to simplify the accounting process, the flat rate VAT scheme was created. This allows business owners to pay VAT on a percentage of turnover , as opposed to individual transactions. Under this […]

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Such a grey area, let’s look at how entertainment expenses for your staff and clients are treated from a tax side of things. This includes the rules around having staff parties and prospect / client entertainment e.g. treating potential clients to lunch. Entertainment Expenses In the majority of circumstances, the cost of entertainment is not […]

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We are often asked this question so thought it would useful to write a blog with the questions around VAT that you should consider before registering for VAT. Do you need to charge VAT to your customers? If you are VAT registered you will need to add 20% to your sale if it is a […]

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