The following Value Added Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
This table provides a summary of the main VAT rate that is applicable to goods and services that are not liable to VAT at the standard rate. If the goods and services are not included in the table below then VAT at the standard rate will most likely be due on the supply made. However it is important to note that there are exceptions to the summary provided below so it is important to read the note to make sure that the supply you are dealing with is liable to VAT at that rate.
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Maintenance payments are payments made by a taxpayer to their former or separated spouse for the maintenance of that former spouse or their children. To obtain any tax relief for maintenance payments, one of the couple must have been born before 5 April 1935 and the payments must be made by virtue
Expenditure of a capital nature is not allowed as a deduction when calculating trading profits. Expenditure of a revenue nature is allowable, provided there is no specific statutory rule prohibiting a deduction and the expenditure also satisfies the wholly and exclusively test. See the Wholly and
What is structures and buildings allowance (SBA)?From 29 October 2018, expenditure on constructing a non-residential building or structure, or in certain cases, expenditure on acquiring such a building or structure, qualifies for an SBA. The following note has been updated for the changes announced
Class 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met before Class 1A NIC is
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