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All persons who are in business and make or intend to make taxable supplies (¶75045) of goods and services in the UK may be liable, or entitled, to register for VAT. VAT registration may be...
Special rules apply where services are supplied over a period of time and under terms that provide for the consideration to be determined, or payable, periodically or from time to time. These...
If the VAT on the supply was calculated on the basis of the profit margin, the bad debt relief available is the VAT element of the outstanding profit element of the supply. Traders using the second-hand...
Where the debts of a business are collected by an agent, VAT must be accounted for in the period in which the agent receives the payment. VAT is due on the full amount received by the agent from...
The VAT treatment of agents depends on a number of factors, such as whether the agent is acting in its own name or in the name of the principal, the location of the principal, and the actual...
The following table shows the rates applicable to the various business sectors defined by HMRC. Category of business carried on Flat rate % Accountancy or book-keeping 14.5 Advertising 11 Agricultural...
Services in connection with land are treated as supplied in the country where the land is situated. This applies to: - the grant, assignment or surrender of: - any interest in or right over land;...
Both the exporter and the overseas recipient may appoint an agent (such as a freight forwarder, airline, shipping company or other person) to act on their behalf by handling the export transaction and...
HMRC will only release confidential information about a business to an agent, such as an accountant or business advisor, if appropriate authorisation is sent to HMRC. 1. A trader who wishes to authorise...
Relief is available for stock transfers to a member of a regulated market, multilateral trading facility, or recognised foreign exchange on which stock of that kind is regularly traded, or to...