VAT Archives | Merranti Accounting
When Should you be VAT registered?
May 17, 2021In simple terms, you should register if in the last twelve months you have turned over more than £85,000, and you should do this within 30 days of the last day. However, if you are trading with VAT registered businesses then you should consider registering anyway because you will be able to claim back the
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What is an SPV in Property?
March 16, 2021An SPV, Special Purpose Vehicle, is a standard limited company that has been set up purely to transact for one purpose or transaction. When you intend to purchase a property or land to build residential or commercial development, it is common for this to be bought in a newly registered company that has no liabilities
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Construction Industry VAT changes
February 3, 2021Construction Industry VAT changes From 1 March 2021, the responsibility for accounting for VAT on building works will shift up the supply chain to larger contractors. Building sub-contractors will no longer charge VAT to other businesses in the construction industry. Instead, their building customers will account for the VAT as both a purchase and sale
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Did we get the deal?
January 21, 2021We all heard Mr Johnson say we had the deal; now we are feeling the after-effects the deal with issues in sending and receiving outside of the UK. The UK is now treated as a third country to the EU, which means the VAT rules on imports and exports have changed for all goods (of
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