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In the UK most basic food stuffs are zero rated. However, the definition of ‘basic’ is not straightforward and many of the foods are zero rated as a result of historical legislation dating back to the introduction of VAT in 1973.
Famously, cakes are
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The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT registration.
Businesses charge VAT on their sales.
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HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the relevant information.
When a company has previously traded and then
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It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations.
After the end of its financial year, a private limited company must prepare full annual accounts and a
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