Accounting

Don’t get your fingers burned on VAT tax issues

As the Great British Bakeoff returns for a seventh series, Emily Coltman gives her top tips for helping make sure your VAT cake doesn’t collapse.

News

Eligible businesses failing to claim back VAT

More than a third of the UK's small and medium-sized enterprises (SMEs) are missing out on significant VAT savings they are entitled to, according to a study.

Accounting

Can we reclaim VAT from a service provider?

As a small company in construction we are VAT-registered. Our quantity surveyor has recently become VAT-registered and therefore his invoices have increased owing to the VAT element. Can we reclaim this VAT as he is a service provider?

Accounting

Accountant wrongly told me I was VAT exempt

My former accountant advised me over a period of five years that I was VAT-exempt. He was incorrect with his professional advice. My VAT bill was £53,000. Is there anything I can do about it?

Accounting

 Can I claim back VAT?

I started a new business eight months ago but was not VAT-registered. Now I want to sell machinery and close the business. Can I claim VAT back and do I need first to register then sell the business?

Tax

Will I have to pay back VAT?

My turnover is well below the current VAT threshold. If I cancel my VAT registration, will I have to pay back the VAT I have already claimed?