Which VAT Scheme Should I Use?

Which VAT Scheme Should I Use?

The VAT accounting scheme that you use can simplify how you work out your VAT, and even enhance your cash flow. Some schemes do have eligibility restrictions, or you might choose a particular scheme to suit your needs. In this article we give an overview of the different types of VAT schemes available, to help…

Pandle Update: Applying the Domestic Reverse Charge

The domestic reverse charge must be used for VAT-registered businesses in the Construction Industry Scheme (CIS) from 1st March 2021. Rather than the supplier, it will be up to the end-customer who purchases the construction services or materials to account for the VAT themselves. This changes the way that suppliers charge and account for VAT…

Post-Brexit VAT Changes

Pandle Update: Post-Brexit VAT Changes

Following the end of the Brexit transition period on 31st December 2020 there are new rules for businesses buying and selling goods and services across the UK border. The arrangements depend on whether your business is registered in Great Britain (England, Scotland, Wales) or in Northern Ireland. Northern Ireland is part of the UK, but…

Is Your Small Business Ready for Brexit?

UK Businesses and New Rules After Brexit

Now that the Brexit transition period is over, there are new rules for businesses which buy and sell goods and services across the UK and GB border. It’s understandable if you’ve zoned out of the Brexit updates by now, having been a drawn out process since 2016. As a business, you might not even realise…

What's the Difference Between 0 VAT and VAT Exemption

The Difference Between Zero VAT and VAT Exemption

When charging VAT, the rate charged depends on what the goods or services are. Most items are subject to the standard rate of VAT, but there are other categories: standard rate VAT is currently set at 20%, and applies to most goods and services if VAT is charged reduced rate VAT, which is set at…