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reclaiming VAT

Reclaiming Pre-Registration VAT – Hidden Rules Could Cause Problems

23rd September 2020

When opening a business, your goal will be to achieve as much success as possible, especially with your turnover. As a business owner, you will have an obstacle by the name of tax, and you will probably be familiar with the corporation tax which you pay on the profit made. Once your business’ turnover (VATable) exceeds £85,000 per ...read more

Tax update week ended 17 September 2010

20th September 2010

Naming and Shaming The ability to “name and shame” is one of HMRC’s most controversial powers. 4 conditions must apply: 1. After deliberately evading tax, the individual has suffered at least one penalty. 2.The penalties relate to wrongdoing, tax returns and VAT returns for periods after 1 April 2010. 3.The underpaid tax is £25,000 or more. 4.The individual has not fully co-operated, hence HMRC levied more ...read more