HM Revenue and Customs defines a non-established taxable person (NETP) as “any person who isn’t normally resident in the UK, doesn’t have a UK establishment and, in the case of a company, isn’t incorporated in the UK.” Unlike companies or individuals based in the UK, NETPs must register for VAT when taxable supplies, regardless of … Continue reading
Making Tax Digital for Business (MTDfB) starts 01 April 2019 for VAT-registered businesses over the VAT threshhold, and from 01 April 2020 for all others. To get my clients ready – whether mandated to submit tax returns in 2019 or later – I will be test-driving various software from the published list of approved providers … Continue reading
Recharging expenses occurs when you ‘recharge’ your expenses to your customer eg travel fare or hotel bills.Note that recharges are not disbursements. If you are VAT-registered, there are VAT consequences to be aware of when processing recharges. Using three expenses: You were charged £100 + £20 VAT (for perhaps hotel accommodation); You were charged £30 … Continue reading
