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This scheme allows a VAT registered business with a turnover of less than £150,000 (excluding VAT) per annum to pay a fixed percentage of its turnover to HMRC every 3 months. [36] The scheme is designed to reduce red tape for small business and allow new companies to keep some of the VAT they charge to their customers. [37]
Anyone who collects VAT becomes a VAT Trustee if they: register and collect a Business Identification Number (BIN) from the NBR; submit VAT returns on time; offer VAT receipts; store all cash-memos; and use the VAT rebate system responsibly. VAT Mentors work in the VAT or Customs department and deal with trustees. The VAT rate is a flat 15%.
A value-added tax identification number or VAT identification number (VATIN [1]) is an identifier used in many countries, including the countries of the European Union, for value-added tax purposes. In the EU, a VAT identification number can be verified online at the EU's official VIES [2] website. It confirms that the number is currently ...
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Booze makers are getting an early hangover after the US surgeon general called for the addition of a warning label to alcoholic drinks. On Friday, shares of beer and alcohol giants sank across the ...
The new year will be a busy one in the night sky with celestial sights of all types for everyone to enjoy, many of which can be viewed without needing a telescope or traveling hundreds of miles to ...
By April 2025, all visitors with visa-exempt nationalities will need an ETA to travel to the UK if they do not possess a valid UK visa or are not also citizens of the UK or Ireland. Since 27 November 2024, ETA applications have also been opened for non-visa nationalities outside the European Union, who will need an ETA for any travel to the UK ...
The then Home Secretary, Theresa May, announced the abolition of the UK Border Agency on 26 March 2013, with the intention that its work would be returned to the Home Office. [1] The agency's executive agency status was removed, and internally it was split, with one division responsible for the visa system and the other for immigration ...