Blog | VAT

Welcome to the Nicki Paddy & Co. Blog.

We are regularly asked questions by our clients, the answers to which are often pertinent to other clients and SME’s. So in a bid to make useful information freely available, we seek to answer the most regularly asked questions or provide some ideas about managing the perennial issues faced by SME’s and growing companies.

If there is a subject you would like us to consider, please contact us.

14th January 2020

MTD and RTI Come to Fruition

In recent years we have had numerous legislative changes around tax reporting, beginning with RTI (Real Time Information) on payroll and then more recently MTD (Making Tax Digital) for VAT. These have been introduced gradually, marking a creeping change to an automated reporting system between businesses and HMRC. The long-term ambition of these measures is […]

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27th February 2019

VAT Threshold Changes – A good thing?

It may have escaped your notice – a lot of these consultations don’t get the promotion I think they should, especially when it can affect so many people/businesses – but the Government carried out a consultation in 2018, on a proposed reduction of the VAT threshold. It is rumoured that the Chancellor was talked out […]

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25th January 2019

Making Tax Digital (MTD) – The lowdown

Making Tax Digital (MTD) is all over the business press at the moment and I have even noticed the likes of QuickBooks and Xero advertising on the TV and radio with their core message being ‘MTD compliance’. Like most new pieces of legislation or changes to the business taxation system, MTD has been coming our […]

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31st August 2018

VAT What you can and can’t claim

It’s not until you’re through the VAT threshold or have taken the proactive decision to register for VAT that you really get a sense of what a complex beast it is. You may be fooled into thinking that VAT is either standard rate, zero rated or as in the case of gas, charged at an […]

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26th October 2015

Chasing the penny – why different systems add up VAT differently

For businesses providing goods or services to people, one of the most important tasks is the calculation of VAT values. This allows you to put a fitting pricing strategy into action or to reclaim the accurate amount of VAT.  A business may choose to use software which provides one of two calculating systems to add […]

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7th November 2013

VAT – To Register or Not to Register?

The Pros and Cons of VAT Registration Clients often ask me whether they should register for VAT or not and what the upsides and pitfalls are of registering. So I thought I’d provide some pros and cons and outline the defaults! Aside from VAT being an option you should first understand that there is a […]

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14th October 2013

Flat Rate VAT (FRV) – Is it for me?

There is much talk about flat rate VAT or FRV for small businesses, but we are regularly asked how it works and what size or type of business should take advantage of it; so we thought it might be useful to give you a brief intro. Who should use it? Businesses with a GROSS (incl […]

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