When it comes to VAT, Andrew Wright & Co. can advise businesses in the Wakefield area on some of the important steps to take – and the pitfalls to avoid. This article considers some important VAT Do’s and Don’ts.

  • DO keep a monthly record of your turnover - late registration can result in severe penalties
  • DO notify your local VAT office when major changes take place - changes must be notified within thirty days
  • DO retain records for the last six years - these could be demanded by law
  • DO charge VAT on supplies to your staff
  • DO charge VAT on any equipment or vehicles (except motor cars) that you sell or part-exchange
  • DO account for VAT on fuel used for private motoring using the appropriate flat rate valuation
  • DON'T claim the VAT paid on the purchase of a motor car - it is not recoverable except in some very special cases
  • DON'T claim the VAT paid on goods or services used for private purposes. Where there is an element of private use (e.g. telephone) an appropriate percentage should be claimed. Special arrangements apply to private use of petrol (see above)
  • DON'T claim the VAT paid on entertaining (except for reasonable, relevant costs of entertaining overseas customers)
  • DON'T forget to account for VAT on inter-company charges
  • DON'T charge VAT on the transfer of a business as a going concern (make sure contracts incorporate appropriate VAT provisions)

If you’re in the Wakefield area and would like to discuss VAT in more detail, please contact the team at Andrew Wright & Co..

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Andrew Wright & Co., 10 Cliff Parade, Wakefield, West Yorkshire WF1 2TA


In the UK the term accountant is not protected by law, therefore anyone can call themselves an accountant. Being an ACCA member firm means that you can have confidence that we are qualified to handle your finances, help your business grow and that we are regulated by the leading accountancy body in the world. The ACCA Qualification provides a wide-ranging skill-set, which means we are trained to provide both strategic and operational input and adapt quickly to your changing management accounting needs.

Unqualified persons who have trained for book-keeping or tax only simply aren't able to provide these other services as their skillset is too narrow.

Andrew Wright & Co is a trading style of Andrew Wright & Co Limited. Registered in England and Wales: 10641250. Registered office: 10 Cliff Parade, Wakefield, West Yorkshire, United Kingdom, WF1 2TA.