VAT Guide for Beginners

VAT Guide for Beginners

Most purchases carry a VAT charge. Value Added Tax (VAT) is levied on most business transactions and on many goods and some services. There are three rates of VAT in the UK: 20% (the ‘standard’ rate). 5% (‘reduced’ rate) and 0%...
VAT – Entertaining Expenses

VAT – Entertaining Expenses

VAT cannot be recovered on business entertainment expenditure. This includes the gratuitous provision to customers or clients of hotel accommodation, food and drink or tickets to events. If a director or employee entertains a customer or client whilst away from the...