Core Tax Annual: VAT 2015/16

This accessible guide to the UK's VAT provides clear and simple coverage, enabling both professionals and non-professionals confidently to grasp current VAT law. With a wealth of practical examples and written in non-technical English, this book is an ideal guide for tax advisers dealing with VAT, and small business proprietors. Core Tax Annual: VAT 2015/16 concentrates on the UK rules and regulations one needs to know, and highlights numerous planning points and common pitfalls. With relevant key UK tribunal and court decisions included, it will help to steer the reader through the latest VAT law. Contents include: an outline of the system * VAT groups and returns * registration * charge and supply issues * what is reduced and zero rated * exceptions * credit notes and record keeping * exports * imports * removals and acquisition of goods * partial exemption * Intrastat returns * partial exemption and the recovery of foreign VAT * information on joint ventures * second-hand goods and retail schemes * annual accounting * cash accounting * flat rates * assessment * VAT penalties.