When VAT was introduced in the 1970s it was described as a “simple tax”. For many farming businesses this may be the case, as all income is zero rated sales of crops and animals, which entitles all the VAT on related costs to be reclaimed.
However there are many instances where modern diversified businesses have VAT issues – either having to pay over VAT on some of their income or not being able to reclaim VAT on all their expenses.
For more information about potential VAT pitfalls for your business, get in touch with Jonathan on 01228 690200 or email firstname.lastname@example.orgContact Jonathan
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