VAT Studio Services

As a business owner, it's important to be VAT compliant . Failing to do so can result in significant penalties, including fines, interest payments and even criminal prosecution. In this article, we'll discuss the penalties for being non-compliant and outline some of the ways in which you can become compliant. What are the penalties for not being VAT compliant? There are a number of penalties for businesses that are not VAT compliant. The most serious penalty is criminal prosecution, which can lead to a jail sentence and/or a fine. Other penalties include financial penalties (such as fines or being banned from taking part in future VAT schemes), reputational damage and been placed on a public register of non-compliant businesses. What are some of the ways businesses avoid paying VAT? There are a few different ways businesses can avoid paying VAT, but the most common is by not registering for VAT in the first place. Others include claiming false expenses, under-declaring sales ...

Are you getting the most out of your e-Commerce business ? If not, you’re leaving money on the table. In this post, we’ll discuss some tips for maximizing your e-Commerce revenue potential. By following these tips, you can take your business to the next level and see a significant increase in sales. E-commerce Revenue Potential E-commerce is a huge industry, with sales totaling over $1.3 trillion in 2017. With numbers like that, it's no wonder that more and more businesses are moving their operations online. But if you want to maximize your e-Commerce revenue potential, you need to do more than just set up a shop and wait for the orders to roll in. There are a number of ways to increase your sales and make more money from your e-commerce operation. In this article, we'll explore some of the most effective strategies for maximizing your revenue potential. Why You Need to Maximize Your E-commerce Revenue Potential You may be surprised to learn that the average e-commerce site on...

As the digital marketplace continues to grow, so does the number of VAT cases being reported. We outline some ways in which you can minimize these tax burdens and stay within compliance. There's absolutely no way that VAT is going to work for digital goods. So, if you run a business selling digital goods, then you need to find a solution for VAT. This article offers suggestions on how you can deal with VAT and avoid having big headaches with your taxes. A few issues are addressed such as charging VAT for items that are not taxable and registering for VAT when your company is not actually required to do so. How to Fight VAT Tax Abuses for Digital Goods? In the United Kingdom there are rules governing Value Added Tax (VAT) which is charged on the sale of goods and services in order to fund national welfare programs. Whilst most businesses will use this as a percentage of their turnover, they need to be aware that there are certain items which cause more complications than others wh...

E-commerce shoppers are now the target of scammers. Cybercriminal (hackers, spammers, and phishers) nowadays uses new techniques to steal personal information from online shoppers. They do it by either targeting them through e-mails or bogus Web sites to lure them into disclosing passwords and credit card details knowingly or unknowingly. But there’s no need for you to be anxious or concerned because this post will walk you through several tips on how to avoid getting scammed while shopping online. Stay with us. 1. Do not open email from unknown sources Whether you are online or offline, you should know that scam emails come from those unfamiliar sources. They do not come from your friends, the merchants that you have previously made transactions with or even the government office. If you receive an email from an unfamiliar source, do not open it and delete it right away. If possible, scan the content using your antivirus software. 2. Do not provide your personal information to unfami...

Cancellation of VAT registration may be done by a taxable person who is registered for Value-Added Tax (VAT) If you are registered for VAT and want to cancel your registration, you must do so by completing Form VAT 69. You can find this form on the GOV.UK website. Cancelling your VAT registration is a big decision and should not be taken lightly. If you are no longer trading, or are going to trade under a different name, it may be more tax efficient to close your business rather than cancel your VAT registration. Cancellation of your VAT registration will stop you from charging VAT on your sales and from claiming any input tax relating to those sales. It will also mean that you can’t reclaim any VAT you’ve paid in the past. Can I cancel or change my VAT registration? The Revenue may cancel or change your VAT registration if the registration is no longer appropriate. The Revenue may cancel your VAT registration if you fail to notify your Revenue office. You may also cancel or change y...

Good e-commerce catalog management will help to impro      e customer satisfaction, increase sales, and improve the overall customer experience. There are several important aspects of e-commerce catalog management that must be considered in order to achieve these goals. 1. Make sure you have a complete inventory. If you are a service-based business, you might have to make the decision to have a full warehouse or a virtual warehouse. A virtual warehouse is a warehouse that is run from your office. The inventory is stored online, and you have to maintain a full inventory of the items you have. If you are a retail store, you might have to decide between a full inventory and a virtual inventory. A virtual inventory is a warehouse that is run from your office. The inventory is kept online and you can have customers order items. Inventory control is also important if you want to keep customers coming back. A well-run e-commerce store will have inventory control in place. Make ...

The purpose of VAT is to ensure that the government receives taxes from the final consumers, and not from intermediaries between the government and the final consumers. VAT is designed to ensure that the final price of the product is as low as possible, which in turn ensures that the government receives the maximum amount of tax. Why do all EU countries use VAT? Some European countries have been using a system of indirect taxes, many of which were two-stage taxes. These were multiple-stage taxes that were each levied on the actual value of output at each stage of the production process, making it impossible to determine the real amount of tax actually included in the final price of a particular product. This made it possible for EU countries to subsidize their exports, to make sure that the final price of the product was as low as possible. If there was ever going to be a single market in Europe, a neutral, and non-deliberate tax system was needed that would keep taxes from being expo...

If you are a new business owner, or if you are running a trading company then you may be unaware of the potential penalties that come with failing to register for VAT . Keeping track of VAT registered customers can seem like an overwhelming task, but it isn't as difficult as it seems. You simply need to use a few simple tricks and tools in order to keep on top of your sales and purchases so that when tax time comes around, you aren't surprised by a hefty bill. What is a VAT penalty? A VAT penalty is a penalty that is assessed to a taxpayer who has failed to comply with the requirements imposed on him or her under the Value Added Tax law. A VAT penalty is often imposed in cases where the taxpayer willfully, negligently, or recklessly fails to comply with the requirements imposed on him or her by the Value Added Tax law. A VAT penalty cannot be applied if there are extenuating circumstances such as natural disasters or other similar events that caused the failure to comply. Why ...

If you are running an online business, at some point, you might need to file a VAT Return. Businesses that trade across borders are required to charge VAT on their products and services, unless they have an exemption. This means that, if you sell to customers in the EU, you will need to charge VAT on your products and services. If you do not register for VAT, you could be liable for a fine. Here are some things you should know about VAT: VAT is charged on all supplies of goods and services in the UK, except for a few specific exemptions. If you make supplies of goods or services that are subject to VAT, you must register for VAT if your turnover exceeds the registration threshold. You may have to register even if your turnover is below this amount, but it will depend on the circumstances. Who is liable for VAT? You are the person liable for VAT if you: ● Carry out business activities in the UK, even if you’re not established here (known as ‘non-established taxable persons’) ● ...