Category Archives: VAT

VAT – seven key points for the smaller business

Seven key VAT areas to consider for the smaller business. If you are starting or have recently started a business in the Co. Antrim area we, at Proactive Accounting, can help you comply with the VAT regulations. This factsheet focuses on VAT matters of relevance to the smaller business. A primary aim is to highlight…

VAT – how to survive the enforcement powers

With careful planning Proactive Accounting can help businesses in the Co. Antrim area to avoid VAT penalties. Although some of the penalties for VAT infringements have been less severe in recent years, there is still an alarming array of enforcement powers to trap the unwary. By being aware of the problem areas and planning carefully,…

VAT – flat rate scheme

We explain how the VAT Flat Rate Scheme operates. The VAT flat rate scheme for small businesses reduces the administrative burden of operating VAT. If you are starting or have recently started a business in the Co. Antrim area we, at Proactive Accounting, can advise as to whether the flat rate scheme is appropriate to…

VAT – cash accounting

We summarise the workings of cash accounting for VAT. If you are starting or have recently started a business in the Co. Antrim area we, at Proactive Accounting, can advise you on the cash accounting scheme. Cash accounting enables a business to account for and pay VAT on the basis of cash received and paid…

VAT – bad debt relief

VAT Bad debt relief allows businesses that have made supplies on which they have accounted for and paid VAT but for which they have not received payment to claim a refund of the VAT. We explain the situations where the relief applies. If your business is in the Co. Antrim area we, at Proactive Accounting…

VAT – annual accounting scheme

The annual accounting scheme helps small businesses by allowing them to submit only one VAT return annually rather than the normal four. The scheme is intended to help with budgeting and cash flow and reduce paperwork. If you are starting or have recently started a business in the Co. Antrim area we, at Proactive Accounting, can…

VAT – a summary

We highlight the key VAT areas you need to consider when running your business. If you are starting or have recently started a business in the Co. Antrim area we, at Proactive Accounting, can help you comply with the VAT regulations. VAT registered businesses act as unpaid tax collectors and are required to account both…

Recovering VAT on staff expenses

Proactive Accounting can help businesses in the Co. Antrim area with recovering VAT on staff expenses. Although the VAT rules normally prevent you reclaiming VAT on supplies that are not made direct to you, there are certain circumstances when the rules are relaxed. Subsistence Expenses For instance, the VAT element of subsistence expenses paid to…