Value Added Tax 2014/15 (Core Tax Annuals)

This accessible guide to the UK's Value Added Tax (VAT) provides clear and simple coverage, enabling both professionals and non-professionals to confidently grasp current VAT law. With a wealth of practical examples, the book is an ideal guide for tax advisers and small business proprietors dealing with VAT in the UK. Value Added Tax 2014/15 concentrates on the rules and regulations, and highlights numerous planning points and common pitfalls. With relevant key tribunal and court decisions included, it will help steer the reader through the latest VAT law. Value Added Tax 2014/15 is split into three sections: a) what you must know - an outline of the system, VAT groups and returns, registration, charge and supply issues, what is reduced and zero rated, exceptions, credit notes, and record keeping; b) what you might need to know - covers exports, imports, removals and acquisition of goods, partial exemption, Intrastat returns, partial exemption, and the recovery of foreign VAT; c) special situations - information on joint ventures, second-hand goods and retail schemes, annual accounting, cash accounting, flat rates, assessment, and VAT penalties.