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VAT ON DISBURSEMENTS

2018-06-21T01:24:34+00:00 March 30th, 2018|Categories: Blog, VAT|Tags: , |

VAT ON DISBURSEMENTS I am a marketing consultant and I have a question about VAT on disbursements. I am incurring some travel expenses which my client has agreed to pay so I will be recharging these expenses to them, I am VAT registered but there is no VAT on my travel costs – do I need to charge VAT to the client when I recharge them? If you are VAT registered and make a purchase on your customers’ behalf you may be able to invoice your customer without charging VAT. This treatment is called ‘disbursements’ for VAT. This can be advantageous [...]

MAKING TAX DIGITAL

2018-06-21T01:22:06+00:00 September 23rd, 2016|Categories: Blog, MTD|Tags: , , |

MAKING TAX DIGITAL CONSULTATION OVERVIEW From 2018, the UK will have a digital tax system, which means most businesses, self-employed and landlords will need to use software or an app to keep their records digitally and update HMRC quarterly. This is all part of HMRC’s Making Tax Digital and with six consultations now released, here we review the key points you should be aware of. (If you are a small business or landlord you may be particularly interested in the exemptions section of Consultation One). Consultation One: Bringing business tax into the digital age This consultation focuses on [...]

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