Value Added Tax

This handbook takes a detailed look at VAT. Written for business people in all types of companies, it presents the underlying principles of VAT and identifies the traps and pitfalls that are often encountered. The book examines the nature of VAT and the mains areas of liability, explains how to reduce the likelihood of unexpected tax liabilities, offers practical advice on resolving problems and deciding when professional help should be sought, explains how HM Customs and Excise operates and details all the latest legislative changes in the run up to the single market in 1992. Combining the perspective of both HM Customs and Excise and the taxpayer, in conjunction with wider business and financial issues, this book enables business owners, directors and financial and commercial managers to make informed decisions when VAT problems arise.