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  • VAT Memo - Input tax - Deductible input tax - Blocked input tax - Business entertainment - 1926
    In most cases no input tax can be recovered on goods and services used to provide business entertaining, except certain staff entertaining, where there is an obligation to provide entertainment under a reciprocal arrangement, or where the recipient of the entertainment is an overseas customer. As regards overseas customers, input tax is deductible in relation to business entertainment of a kind and scale which is reasonable, having regard to all the circumstances. It is very hard to delineate where normal subsistence...
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  • VAT Memo - General Information - Appendix - Simplified accounting schemes - Flat rate scheme percentages and trade sectors - 9979
    The following table shows: - the percentage rate which applies to each trade sector from 4 January 2011; and - the trades which HMRC considers fit in each sector. For the rates prior to 4 January 2011 see previous editions of -VAT Memo. From 1 April 2017 the flat rate for a limited cost trader is 16.5% (see ΒΆ4673). Category of business Flat rate % Trades which HMRC considers fit in each sector Accountancy or book-keeping 14.5 Accountants and bookkeepers Income tax preparation services Advertising 11 Advertising...
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