Smarter accounting

VAT for Advocates

VAT for Advocates

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. […]

Computer equipment intending trader

VAT intending trader

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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