Tag Archives: VAT

VAT domestic reverse charge applies 01 March 2021 In the 2017 budget, the Government announced a VAT reverse charge to combat “missing trader” fraud.  The scheme is called VAT reverse Charge and the date of implementation is 01 March 2021. In simple words from 1 March 2021, the domestic VAT reverse charge must be used […]

The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations, although some VAT experts would argue that the scheme is not simple to use. Broadly, the FRS is a simplified VAT accounting scheme for small businesses, which allows users to calculate VAT using a flat rate […]