An unpaid invoice doesn't become harmless just because you've stopped chasing it. A customer may have failed to pay, yet your business could already have funded the VAT on that sale. For a VAT-registered SME working with tight cash reserves, that can turn one bad commercial decision into a direct working-capital problem. VAT bad debt… Continue reading VAT Bad Debt Relief: A Practical Guide for UK SMEs
Tag: hmrc vat rules
VAT on Professional Services: A Practical UK Guide
A new client has signed the proposal, the work is ready to begin, and the first invoice is waiting in your accounting software. Then the awkward question appears: should you add VAT, leave it off, or treat the supply as outside the scope of UK VAT? For a small consultancy, accountancy practice, design studio, marketing… Continue reading VAT on Professional Services: A Practical UK Guide