VAT Breaks
Five powerful VAT Breaks every month. See how much they could save you

May 2018

  • Selling a business - do you charge VAT or not?
    You are about to sell your business. You have been VAT registered for a number of years, but the buyer is not. Your accountant is concerned as the selling price has omitted VAT, but the buyer insists that nothing is due. What is the correct position, and are there any pitfalls?
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  • Reclaiming overseas VAT when you have no UK sales
    Your business may not be VAT registered in the UK because you are below the registration threshold. It may even be the case that you only have overseas customers, and so can’t register even if you wanted to. How can you sidestep this so you can reclaim VAT on costs?
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  • What happens if goods are partly used privately?
    If goods you purchase have a mix of private and business usage, you have to account for output tax on a notional sale to yourself. But what is the position if there is no private use in a particular VAT period?
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  • Avoiding a VAT trap when you reward your employees
    If you make gifts to your staff, they can be classed as a deemed supply, meaning you have to pay for VAT as if you had made a sale. However, there is a VAT-free alternative you could use to avoid this situation.
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  • VAT-saving strategies with buy-to-let property
    If you are buying a property that needs restoration work before you can let it, you might be able to save yourself a great deal of VAT. If certain conditions are met, you can ask the builder to charge the reduced 5% rate instead of the standard 20%. What do you need to know?
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All the VAT Breaks sorted by year of publication