KSK Accountants Milton Keynes – Chartered Accountants RSS Feed Blog Category: VAT

Claiming for VAT paid when you’re not VAT-registered

The question was put to us, “Is there any way we can claim back input VAT paid in a period when we weren’t VAT-registered?” The answer may come as a refreshing surprise. A business can generally reclaim VAT incurred on goods it has purchased in the period up to four years before the date of re… More

Property, VAT, SDLT and the “Sergeant Pepper” election

“It was twenty years ago today” begins the song… With echoes of the iconic Beatles’ album ringing in your ears, when was the election made to charge VAT on the commercial property you are about to buy, sell or let?  If it was more than twenty years ago, you may be able to save some tax.  A… More

Continuous supply of services – How the VAT rules may help your cashflow

The VAT Regulations contain special time of supply rules for what is normally referred to as a “continuous supply of services”. Generally, a charge to VAT arises at the earlier of:- the time of supply of goods or services, and the date an invoice is raised. However, where there is a continuous… More

Reclaiming VAT on old debts

If you’re VAT-registered, unless you qualify to adopt the cash accounting scheme, VAT you charge has to be paid over to HM Revenue & Customs based on invoices raised, not cash received. So you may regularly have to pay VAT you have not received. Many people overlook the fact that, if a cus… More

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