Accounting Blog

A practical guide to calculating VAT when prices change due to discounts, refunds, or returns. Learn how VAT-exclusive and VAT-inclusive pricing affect taxable amounts, how to apportion discounts across VAT rates, and how to correctly adjust VAT for partial or full refunds without common reporting errors.

Learn how to reclaim VAT on fuel and vehicle costs, including cars, vans, leasing, fuel cards, mileage, and private use. This practical guide explains when VAT is recoverable, common pitfalls, record-keeping requirements, and compliant methods to maximise legitimate reclaims while minimising risk for VAT-registered businesses across different real-world scenarios clearly.

Submitting a VAT return late can trigger penalties, interest, delayed refunds, and increased scrutiny. This guide explains what “late” means, the difference between late filing and late payment, immediate consequences, financial risks, and practical steps to fix the issue quickly and prevent repeat late VAT returns.

Can a sole trader use the VAT Flat Rate Scheme? Yes—if they meet HMRC’s rules. This guide explains how the scheme works for sole traders, who can join, the impact of limited cost trader rules, and how to decide whether flat rate VAT saves money or costs more.

Learn how VAT recovery works and why some business costs are blocked from reclaim. This guide explains common restricted expenses, policy reasons behind VAT blocks, and practical steps to identify, manage, and reduce irrecoverable VAT, helping businesses stay compliant while avoiding missed recovery or costly errors.

Mixed-use VAT explains how to reclaim input VAT when costs serve both business and personal or exempt activities. Learn practical methods to apportion VAT fairly, choose evidence-based splits, handle phones, broadband, vehicles and property, avoid common errors, and design a consistent mixed-use VAT policy that stands up to audits confidently.

Can you reclaim VAT if you’re not VAT registered? This guide explains the general rule, key exceptions, and practical workarounds for small businesses and freelancers. Learn when VAT can’t be reclaimed, when it might be recovered later, and how VAT registration affects pricing, expenses, and cashflow.

A practical guide to VAT for UK online sellers, covering when to register, how to charge VAT on domestic and overseas sales, marketplaces, imports, exports, pricing, invoicing, and common mistakes. Learn how VAT affects margins, cashflow, and compliance when selling goods online in the UK.

Correcting a VAT return after submission doesn’t usually mean editing the original return. This guide explains what VAT corrections really involve, how to identify errors, calculate the net VAT effect, and choose between adjusting a future return or notifying HMRC—while keeping clear records and reducing compliance risk.