VAT - Out of Bounds

As with all the descriptions we do, they are written by a nerd and then checked and approved by a qualified accountant. To be safe, you should treat what we write as background material and seek qualified professional help.

Even if you are confident, we have not covered the following topics which do have more complex VAT treatment. Again, we are suggesting qualified professional help:

  • Company cars
  • Entertainment
  • Large capital expenditure
  • Partial exemption ie where a goods bought and sold do not carry standard VAT rate i.e. you have a mixture of taxable supplies, ie supplies with a mixture of tax rates (exempt, zero rated and standard).
  • International trade