UUΒγΑΔΦ±²₯

Summary of the retail schemes

Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance

Summary of the retail schemes

Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
imgtext

The following provides a brief overview of the main requirements of each retail scheme. Businesses with a retail turnover exceeding Β£130m are required to use a bespoke scheme if they cannot use standard VAT accounting. The bespoke retail scheme will be

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+β„’
Powered by

Popular Articles

Bad debts

Bad debtsBad debts usually arise where goods or services have been provided to a customer, for which payment has not been received within a reasonable or specified time period, or for which the customer is unable to pay. It is necessary to determine the quantum of relief that can be claimed for bad

14 Jul 2020 15:34 | Produced by Tolley Read more Read more

Ministers of religion

Ministers of religionMost ministers of religion or members of the clergy are either office-holders or employees and so their earnings are taxable under ITEPA 2003 as employment income and are subject to Class 1 National Insurance.For the purposes of the tax system, a minister does not have to belong

14 Jul 2020 12:14 | Produced by Tolley Read more Read more

Non-trading deficits on loan relationships

Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company’s debits on its non-trading loan relationships and derivative contracts in an accounting period exceed the credits on its non-trading loan relationships and derivative contracts in the same period (the

14 Jul 2020 12:17 | Produced by Tolley Read more Read more