Smarter accounting
24 May 2022, Advocates, Barristers
There is specific guidance from HMRC on accounting for VAT for advocates. VAT notice 700/44 was updated on 20th May 2022. The change was only to update a contact address, but with an increase in people leaving work it is a good time to consider the VAT implications of leaving your practice as an advocate. […]
25 April 2021, Advocates, Barristers, Creative Industries, General, Musicians, Sole Traders
Before you start to trade you can register for VAT as an intending trader to recover input VAT on computer equipment and other costs. You can also recover pre-registration VAT in some circumstances. Pre-trading VAT The current threshold for obligatory VAT registration is an annual turnover of £85,000. Voluntary registration is beneficial where: VAT on […]
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