The Effect of a Value-added Tax on Small Business PDF Download
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Author: James M. Bickley
Publisher:
ISBN:
Category : Small business
Languages : en
Pages : 32
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Book Description
Author: James M. Bickley
Publisher:
ISBN:
Category : Small business
Languages : en
Pages : 32
Get Book Here
Book Description
Author: James M. Bickley
Publisher:
ISBN:
Category : Small business
Languages : en
Pages : 32
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Book Description
Author: Emily Coltman
Publisher: Harriman House Limited
ISBN: 1908003650
Category : Business & Economics
Languages : en
Pages : 52
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Book Description
Of all the UK's myriad taxes, VAT is one that affects us all, but as a small business owner it causes a great deal of uncertainty. When, if at all, should you register for VAT? How do you charge and collect VAT? What do you actually have to pay to HMRC? And what happens if you're making sales, or buying supplies, from outside the UK? In this new e-book, her third, Emily Coltman ACA, one of the UK's foremost small business accountants, answers all these questions and many more, in the plain, simple English we have come to expect from her work.
Author: Geoff Hull
Publisher: Penguin Random House South Africa
ISBN: 1770223738
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
Taxpayers often pay over more to the Receiver than required, and nowhere is this more evident than in the payment of Value Added Tax. There are thousands of VAT vendors in South Africa who are obliged to prepare a VAT return every two months. On the face of it, the process is very simple: record the VAT paid in respect of producing your product or service, subtract from this the VAT received in respect of your product or service, and pay the balance over to the Receiver. But in practice it is rather more complex, as certain rules apply to what you can and cannot claim as a legitimate amount, and on imports and exports related to your business. Tax consultants, who service several returns at a time, rush through the work, with the result that large amounts often get overlooked through ignorance or haste and millions of rands go unclaimed, or are paid over to the Receiver unnecessarily. But help is now at hand with The VAT Handbook, everyone’s essential guide on all matters concerning this tax.
Author: James Cooper-Watson
Publisher: Createspace Independent Publishing Platform
ISBN: 9781973818779
Category :
Languages : en
Pages : 34
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Book Description
Value Added Tax (VAT) is a tax on the sale of goods and services in the UK. Not all goods and services are liable to VAT and not all business need to register for VAT. This book will explain who needs to be VAT Registered and when they should be registered. It will also detail who should consider being VAT registered, even though there is no obligation for them to be. Who will benefit from this book If you are running your own business or planning on doing so in the near future, you should read this book. It will explain your obligations from a VAT point of view so that you understand what you should look out for and when you need to take action. There are also a number of circumstances that may actually make it beneficial to register for VAT before you are legally required to. These scenarios will be explained with the the use of real life examples.
Author: Graham Bannock
Publisher:
ISBN:
Category : Sales tax
Languages : en
Pages : 108
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Book Description
Author: Y. Zu
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Inherent features of any business tax are the imposition of relatively higher compliance costs on small businesses and higher administrative costs faced by tax authorities in respect of these firms, allied with low net tax revenue collected from the sector. A common response in jurisdictions levying a value-added tax (VAT) is the adoption of a registration threshold to remove from the formal VAT system small businesses for which the compliance burden would be most onerous, with the threshold being set at a level that does not seriously undermine VAT revenue. However, the distinction caused by the threshold between enterprises excluded from the VAT and others fully incorporated into the tax system gives rise to competitive distortions; these distortions are ameliorated for some businesses through a voluntary registration option, while other businesses are induced to adopt behaviour that will allow them to remain below the registration threshold. Taking the form of commercial restraint, enterprise splitting, or underreporting of sales, this behaviour leads to further distortions and threatens revenue collection. This article reviews the key considerations and challenges in setting a VAT registration threshold and the consequences of adopting that boundary. Two issues related to the choice of threshold concern the use of "transitioning" subsidy regimes adopted in some jurisdictions to reduce the tax discontinuity as enterprises move into the full VAT system and the special concessional regimes used in some countries to reduce the compliance burden that small businesses face once they are subject to VAT. Another approach found in some jurisdictions is the use of a tax regime border instead of a registration threshold, with a full VAT being levied on enterprises above the border and a substitute turnover (revenue) tax being imposed on small businesses below the border. The turnover tax alternative has been variously explained as a system intended to achieve simplification or revenue-raising objectives. The benefits of the transitioning and simplification schemes may be exaggerated, while their unintended costs and distortions may be insufficiently recognized. A review of these systems can provide guidance to policy makers contemplating reform or the adoption of new regimes.
Author: Edith Brashares
Publisher:
ISBN:
Category :
Languages : en
Pages : 71
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Book Description
Most countries with a VAT have a tax exemption for small businesses that have taxable sales below a certain threshold. The exemption reduces both the compliance costs for small businesses and the administrative costs for the government. We use a static analysis of the U.S. economy to determine the optimal level of taxable sales for this threshold and analyze the potential behavioral response by businesses. For a 10 percent VAT rate, we find that the optimal level for the threshold in the United States is $200,000, and that behavioral responses may be significant close to the threshold.
Author:
Publisher:
ISBN: 9780918255181
Category : Sales tax
Languages : en
Pages : 349
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Book Description
Author: Juan Carlos Venegas
Publisher:
ISBN: 9781907444487
Category : Business & Economics
Languages : en
Pages : 256
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Book Description
VAT and Small Businesses is a comprehensive guide for owners of small businesses and directors of small companies in the UK, along with their tax advisers. The book deals with the general principles of value added tax (VAT), UK compliance issues (registration and deregistration, taxable supplies, time of supply, record-keeping, and the VAT return), and Her Majesty's Revenue and Customs' powers to enforce VAT compliance. It also explains the nature of input and output tax, the conditions for TOGC (taxable as a going concern) treatment and the VAT rules on international trade: B2B, B2C, and the reverse charge. There are a number of special VAT treatments which a small business needs to consider - such as the simplified accounting schemes and trade-specific rules - which are all covered in the book.
