Comprehensive VAT FAQ for UK businesses. Learn about VAT registration thresholds, rates, MTD, schemes, reclaim rules, property VAT, and common mistakes. Expert guidance from Lambert Chapman’s VAT specialists.
The VAT capital goods scheme affects input VAT recovery relating to high-value capital assets. Input VAT is a tax incurred on most purchases made by VAT-registered firms, and they can usually reclaim it from HMRC in full. The scheme usually applies to partially-exempt...