Company Tax

Awaiting VAT registration details: information when issuing invoices i...

It is an HMRC requirement that your company accounts for VAT from the date you registered for VAT, even if you are still awaiting your VAT registration number. The VAT certificate usually takes about four weeks to come through. If you have requested we register you for VAT the Crunch system will au...

VAT (MOSS) – change of rules for digital service suppliers

Who is affected? The changes will affect all businesses that supply digital services to consumers (B2C), including broadcasting, telecoms and e-services. If you supply digital services to businesses (B2B) only - including those who are self employed - then these changes do not affect you. Whe...

VAT MOSS - What you need to do

If you have to add EU VAT to your sales invoices, you will need to pay this VAT via the MOSS VAT return. The VAT MOSS scheme accounts for VAT on all of your cross-border digital service supplies in member states where you don’t have an establishment. For a more detailed explanation, click here. Ple...

VAT Registration Options

In this article, we’ll help you decide whether you should register for VAT and what scheme is best for your business. What are my options? Most clients have three options: Don’t register for VAT Register on standard rate VAT Register on the VAT Flat Rate Scheme How do I know which i...

VAT schemes (standard rate / flat rate)

How does the Standard Rate VAT scheme work? The Standard rate scheme is the normal method of calculating how much VAT you owe HMRC. With this method you deduct all the VAT you have paid on expenses from the VAT you have charged on your invoices. The difference is the amount you have to pay HMRC...

From when does the 1% discount I get on Flat Rate apply?

The 1% discount you get within the first year of Flat rate registration begins from the day you VAT register, not the day you become Flat rate registered.

Why is VAT charged on top of recharged expenses?

It is standard accounting practice to add VAT to a recharged expense. If you are VAT registered and you charge your client exactly what you paid for your expense then you would lose out financially. On the Standard Rate VAT scheme, by adding VAT to the recharged expense there is no financial benef...

International VAT fact sheet

Supplies made to countries outside the EU are outside the scope of UK and EU VAT and are not charged on the invoice. The system will automatically determine whether to add VAT or not based on the country information entered when adding your international client details into the system, and whether...

What else needs to be completed when goods or services have been sold ...

As a VAT registered business you are required to provide HMRC with details of goods and services supplied to a VAT registered customer in another EU country on the EC Sales List. This return contains details of your customer, their VAT number, the relevant country code and the value of goods and/or...

What is the VAT element of mileage on standard rate

Using the advisory fuel rates which can be found here you can calculate what percentage of the mileage rate applies to fuel and calculate the VAT on that element. For example, on 100 miles at 15p per mile advisory fuel rate £15 would be deemed to be attributed to fuel (out of the overal...

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