vat

  1. E

    CVL vs Time to Pay

    Hi everyone, I'm the sole director / employee of a small UK limited company (web design, approx 10 years trading) that I was already planning to close. An HMRC compliance check earlier this year revealed I'd been using the wrong VAT Flat Rate Scheme rate since 2017 (14.5% instead of 16.5% as a...
  2. Mr Value

    Liqudation

    Here’s the final post ready to copy: Can I replace my daughter as director to protect her, and can a staff member take over to save the company? Hi all, hoping for some advice on a difficult situation. I have a company where my daughter is the sole director. Unfortunately, the...
  3. A

    VAT Reclaim Eligibility for Pre-Registration Period

    Hello, I own a UK-registered company selling on Amazon (FBA model) and I am a non-UK resident. During 2023–2024, I paid VAT on Amazon service invoices (mainly advertising fees) while not VAT-registered. Amazon has now informed me that, as a Non-Established Taxable Person (NETP), I should have...
  4. S

    Supplier forget/omitted to include VAT on bill for service received in previous quarter…

    And is now asking if we could pay him this VAT (we’ve paid this bill some time back. i’ve had this happen before I can’t remember the best procedure. I’m thinking it would be easiest for him to issue us with a credit note to cancel his previous bill and just send us a new one. The problem with...
  5. G

    HMRC - VAT Return - sent for Further Checks

    Good morning. I run a Construction business where I constantly purchase building materials. Due to the amount monthly I have decided a year and a half ago to change the VAT period to monthly returns. All well and good uo to June this year. I have submitted my May-25 VAT return on the 1st of June...
  6. The Well Frog

    Non-UK resident with UK Ltd selling on Amazon FBA - DIY VAT registration or use service?

    As a non-resident (NETP) who has set up a UK LTD for the purpose of e-commerce on Amazon FBA, I need to VAT register immediately. or better to use a professional service? How about ongoing VAT returns? No sales currently and will be expected very slow sales for the next 6 months . Questions...
  7. Oliver Austin

    Flat rate VAT on revenue earned before registration?

    I've been trading i.e. providing consultancy services to a single client) for about 6 months but I have not invoiced and therefore have not received any revenue because I've been trying to register for flat rate VAT. In my situation it offers a reasonable uplift as my VAT rated expenditure is...
  8. Apple55

    VAT Margin Scheme (Global Accounting) Purchase Recordkeeping

    I can see that the page on HMRC site with title "The Margin and Global Accounting Scheme (VAT Notice 718)" has this text on it "This guidance was withdrawn on 23 December 2021" This notice said that when using VAT Margin Scheme (Global Accounting) you must collect Name & Address from every...
  9. MikeB03

    VAT enquiry

    Hi, I'm looking for some advice on the best way to proceed in my situation. I have been trading online since 2017 across various platforms and have been VAT-registered and operating as a Limited Company from day one. Recently, I received an unexpected phone call from HMRC. The person...
  10. M

    2 businesses, same industry, slightly different. I want to split for VAT purposes, is this doable?

    Hi all, I'll try to keep this short. I currently have 2 trading names for my business, which is a media business, I operate them under different names because they differ slightly, one is media related content for corporate / commercial purposes one is wedding media (both companies provide...
  11. Being VAT Registered is Killing My Business

    Being VAT Registered is Killing My Business

    Navigating the VAT registration threshold is a significant milestone for many UK small businesses. Crossing this threshold, currently set at £90,000 in taxable turnover, brings both opportunities and challenges. Insights from UK Business Forums (UKBF) members shed light on these experiences and...
  12. P

    Running 2 businesses or 1 for VAT

    Hi, I voluntarily registered for VAT with hmrc for my b2b startup as l reckoned all my clients are all vat registered too so benefits outweigh downsides. Since then l created a new product that l will sell b2c instead, using a different brand name, seperate website, bank account etc. So for this...
  13. R

    VAT refund for exported goods using parcel forwarder

    Hi, have a question regarding exports of goods that are first delivered to the UK. My company helps individuals based outside the UK to purchase online goods from UK retailers. Customers purchase goods and deliver them to our UK address (we are a parcel forwarding company). We then then ship the...
  14. B

    Selling online credits for services

    Hi all, I'm UK resident and will have a website selling a service all provided via the website. The idea is that people from anywhere in the world may be a part of a group. Some members might pay a few pounds to buy credits for the group, and when the group has a certain amount they get the...
  15. Dnallov

    Building a workshop on the grounds of a residential property I am buying; VAT & Capital Allowance?

    Hi Guys I'm in the process of buying my first house, and with it will move my business to the new location (work from home; I'm an installer - currently have workshops at the house I rent). The new house has lots of land, but have no workshops, so I plan is to build a large workshop, costing...
  16. E

    VAT Flat Rate Scheme Threshold

    Hello, I am a bit confused and would be grateful if you could help! Regarding the VAT Flat Rate Scheme; on the Gov webpage, it says that; ''You can join the Flat Rate Scheme if you expect your VAT taxable turnover to be £150,000 or less''. It also states that ''you must leave the scheme if...
  17. P

    Claiming VAT - Chinese products based in the UK

    I buy products for my customers from a Chinese supplier. Once purchased they dispatch directly from their UK warehouse to either me or my customers. They do not charge VAT, but I will have to pay HMRC VAT. After doing this, I am left with very little profit. I can't charge VAT to my customers as...
  18. Greenslake

    VAT DDU for exports

    Hey all, I am just wondering if I need to register for VAT in any international countries if I’m sending via DDU Royal Mail at any point depending on the volume being sent/ value? or can I send via DDU no problem and never have to register for VAT in any international destination country as the...
  19. R

    UK VAT accounting for Norway VOEC

    Hi. My business is registered for Norway's VOEC (VAT on E-Commerce) scheme and I'm trying to ensure we're accounting for the VAT correctly on our UK VAT return. All transactions are in GBP. I've only got couple of transactions to account for at the moment but I'd like to be confident I'm doing...
  20. D

    Is this classed as a VAT invoice, has 20% tax and a UK VAT number

    Purchases from Amazon overseas such as this one: Would this be classed as a VAT invoice for reclaiming purposes? I can see it has a valid Amazon Japan's UK VAT number on the invoice when I check HMRC and 20% tax, and the translation says "Value added tax written by Amazon Japan LLC tax number"...
Top Bottom
Back