by AJN Accountants | Sep 18, 2026 | VAT
If you acquire, create or construct capital items for use in a business and you incur VAT on those items, you may need to use the VAT Capital Goods Scheme (CGS) on your VAT returns. The CGS is a mechanism that adjusts the amount of VAT a business can recover on...
by AJN Accountants | Jun 17, 2026 | VAT
The Government has announced a temporary VAT reduction this summer aimed at helping families with the cost of school holiday activities. Under the new ‘Great British Summer Savings’ scheme, the standard VAT rate of 20% will be reduced to 5% on selected...
by AJN Accountants | Mar 31, 2025 | VAT
For many small business owners, VAT registration is seen as something to avoid until absolutely necessary. However, voluntarily registering for VAT before reaching the £90,000 threshold (from April 2024) can offer several benefits—depending on your business model. In...
by AJN Accountants | Sep 20, 2024 | VAT
Typically, most VAT-registered businesses submit their VAT Returns and payments to HM Revenue and Customs quarterly. By choosing the Annual Accounting Scheme for VAT, you eliminate the need to file quarterly VAT returns. However, there are other factors to consider,...
by AJN Accountants | May 17, 2024 | VAT
The zero rate of VAT has been extended to include the installation of additional energy-saving materials (ESMs) from 1 February 2024. The installation of certain specified energy-saving materials (ESMs) in residential accommodation is zero rated for VAT. The more...
by AJN Accountants | Feb 23, 2024 | Accounting, Advice, FAQs, Small Businesses, VAT
In the world of VAT, a business can be unaware of a fraud in the supply chain and still be regarded as a fraudster, if they have not properly vetted their suppliers or has ignored signs of potential connections to fraud. In 2023 alone there were three high-profile...
