Amidst a change in various tax changes during the ‘mini budget’ held on 23rd September 2022, Chancellor Kwasi Kwarteng has announced the UK intends to reintroduce VAT free shopping for overseas visitors. During his presentation, he stated “Britain welcomes millions …
Once your business achieves a turnover above a certain amount (£85,000, as of October 2021), you have to register for VAT. However, you do get a choice in the rate of VAT you pay. It sounds good, doesn’t it? Well, …
It’s no surprise that the UK government needs to raise funds to operate the country. Considering VAT applies to the vast majority of products and services bought and sold, it should also come as no surprise that it’s a massive …
Do you own a successful business? If you do there is a good chance you might already be thinking about registering for VAT. Even if you haven’t hit the current threshold for obligatory registration you may have decided it is worth …
VAT is a form of “consumption tax”. It is charged on goods and services and in some countries is known as GST – Goods and Services Tax. The first country to introduce VAT in 1954 was France and it now …
The next time you look at a pack of Jaffa Cakes, you may think about them slightly differently – and you may be glad that the price isn’t a teeny bit higher. You see, there was a famous (or perhaps …