Are You Charging Correct VAT Rates?
Value Added Tax or VAT rules are becoming increasingly complex and businesses need to ensure that the correct rate is applied to the goods and services they supply.
HMRC recently updated guidance on VAT rates, with a list of goods and services you can check against to determine which rates of VAT apply and which are exempt or outside the scope of VAT:
The guide is not a comprehensive list, and you may need to check the appropriate VAT Notices that deal with certain supplies in more detail. We can of course assist you if you are unclear on the correct rate to apply.
For help with your VAT calculations and processing why not speak to a member of our tax team on Let’s Talk?