A quick summary of all the main VAT changes from 2015's budget!
VAT REGISTRATION & DEREGISTRATION LIMITS INCREASED TO £82,000 & £80,000 RESPECTIVELY
FOREIGN BRANCHES - VAT DEDUCTIONS
Supplies made by foreign branches can no longer be taken into account when calculating how much VAT incurred on overhead costs can be deducted by partly exempt businesses in the UK.
VAT DEDUCTIONS FOR PALLIATIVE CARE CHARITIES
This measure will introduce a new VAT refund scheme for palliative care charities. It will enable these charities to reclaim the VAT they incur on purchases made to support their non-business activities.
VAT REFUNDS TO MEDICAL COURIER CHARITIES
This measure will enable these charities to reclaim the VAT incurred on the purchase of goods and services, and the acquisition and importation of goods from outside the UK, used for their non-business activities.
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