VAT and the goods you use in your own business

VAT and the goods you use in your own business

by | Mar 6, 2025 | Value Added Tax

Using business goods instead of selling them is usually VAT-free, but some cases require VAT payments. These "taxable self-supplies" include cars taken from stock and certain buildings. Read on to see how to stay compliant. If your business makes products or...
What’s included in your VAT return

What’s included in your VAT return

by | Feb 27, 2025 | Value Added Tax

With a £90,000 VAT registration threshold, many UK businesses might wonder whether to register voluntarily. Understanding how to balance output and input VAT can help optimise cash flow and avoid costly mistakes with HMRC. The current VAT registration threshold...
Health services exempt from VAT

Health services exempt from VAT

by | Feb 13, 2025 | Value Added Tax

Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health. HMRC outlines specific exempt services, including diagnosis and treatment. The VAT...
Claiming VAT on pre-registration purchases

Claiming VAT on pre-registration purchases

by | Jan 23, 2025 | Value Added Tax

Businesses can reclaim VAT on pre-registration expenses if they relate to taxable supplies made after VAT registration. The rules differ for goods and services, with time limits of 4 years for goods and 6 months for services. Proper understanding ensures you don't...
When can you recover VAT on a car purchase

When can you recover VAT on a car purchase

by | Dec 19, 2024 | Value Added Tax

Reclaiming VAT on company cars isn’t as simple as it sounds. Generally, businesses can’t recover VAT unless the car is used exclusively for business purposes. But there are exceptions—like taxis, driving schools, and commercial vehicles. Here’s...