changes

Budget 2010 – VAT changes

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As ever, the Budget didn’t appear too interesting in terms of VAT changes. Indeed I came across a headline indicating that there would be no changes to VAT. Look a bit further though, and there were quite a few changes, although admittedly nothing to get anybody terribly worked up about. VAT registration limit goes up … Read more Budget 2010 – VAT changes

VAT – partial exemption changes

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HMRC have announced changes to the basic partial exemption rules, most of which will have a beneficial effect on businesses afflicted by this concept. Affected businesses are those that have exempt income as well as taxable income, and who are obliged to disallow a certain amount of VAT on expenditure. In simple terms, those changes … Read more VAT – partial exemption changes