Knowledge centre
Explore all the courses, articles, resources and support Mercia can offer Accountants navigating the complex world of VAT.
Featured Course
The aim of the course is to ensure that participants can deal confidently with day-to-day VAT issues. Through the use of case studies and quizzes, the course highlights some of the key areas accountants get wrong when completing or reviewing their clients’ VAT records.
James is Mercia’s VAT trainer and consultant. He uses his specialist knowledge to write technical materials and in devising, and delivering, VAT training courses.
A specialist in VAT and indirect tax, James began his VAT career with HM Customs & Excise (as it then was) before moving to the private sector in 1995 and gaining his CTA qualification.
Prior to joining Mercia James held VAT Partner and Head of VAT roles in large accountancy firms.
Filter by:
VAT implications of buying and selling goods and services across borders.
As the MTD project rolls on, HMRC have announced that, for VAT periods starting on or after 1 January 2023, the default surcharge will be replaced by new penalties if VAT returns or VAT payments are late.
VAT is at the best of times illogical and confusing and never more so than in the realms of land and property. The problem is that if you get it wrong when dealing with VAT and real estate, the figures are large and mistakes are costly.
New rules are to be implemented for VAT periods starting on or after 1 January 2023. This includes a replacement of the default surcharge with a new point-based penalties system as well as changes on how VAT interest is calculated.
To familiarise participants with the basic scope of VAT and the bookkeeping entries necessary to record the VAT element of business transactions.
Our VAT file review service is flexible and is tailored to your firm’s individual needs. Typically a review will include compliance with firm procedures and manuals, and compliance with VAT legislation and case law.
This course provides an update on important changes in regard to VAT in the preceding six months and an outline of significant forthcoming developments. Major cases and changes in HMRC policy or law will be covered, with a pointer to potential problem areas for clients.
VAT implications of buying and selling goods and services across borders.
After a number of delays the new rules are to be implemented for VAT periods starting on or after 1 January 2023. The default surcharge will be replaced by new penalties if a VAT return is submitted late or VAT is paid late. There will also be changes to how VAT interest is calculated.
This course provides an update on important changes in regard to VAT in the preceding six months and an outline of significant forthcoming developments. Major cases and changes in HMRC policy or law will be covered, with a pointer to potential problem areas for clients.
This session will review the key legislative changes in the past 12 months and will then focus on recurring real-life VAT issues that have arisen in practice, including the implications of the UK leaving the EU.
Our experienced in-house tax team is able to provide you with independent expert advice and assistance regarding all key direct tax matters.
HMRC have recently released Revenue and Customs Brief 10 (2022): VAT - business and non-business activities. This Brief explained how HMRC now approaches determining whether or not an activity is a business activity for VAT purposes.
A frequent grumble on social media is that overseas-based e-commerce websites are now charging significant tax and duty fees to British customers at the checkout process, even on orders costing as little as £3.50. Some members of the public are blaming Brexit, but that isn’t the case.
HMRC has announced that it has closed its VAT registration helpline from 22 May 2023, giving only five days’ notice. This decision – communicated with very little advance warning - has only served to highlight ongoing frustrations with HMRC’s processing of new VAT registration applications.
HMRC continue to highlight recent changes to VAT late filing and late payment penalties for 2023.
Want to learn more about how Mercia can help you promote your services and train your team? Call us on 0330 058 7141, chat to us on live chat or visit our contact us page.
