We use some essential cookies to make this website work.
We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services.
We also use cookies set by other sites to help us deliver content from their services.
You have accepted additional cookies. You can change your cookie settings at any time.
You have rejected additional cookies. You can change your cookie settings at any time.
Departments, agencies and public bodies
News stories, speeches, letters and notices
Detailed guidance, regulations and rules
Reports, analysis and official statistics
Consultations and strategy
Data, Freedom of Information releases and corporate reports
How to account for VAT if you're a supplier and accept purchasing cards, or a business that buys goods and services using a purchasing card.
Tax and reporting rules for assets bought, sold or given
As an employer buying, selling or giving assets to your employees, you…
What you have to deduct, pay and report to HM Revenues and Customs (HMRC)…
Give or sell a new asset to an employee The value is the higher of: how…
The following guide contains more detailed information: assets transferred…
VAT and other taxes on shopping and services, including tax-free shopping, energy-saving equipment and mobility aids.
VAT is a tax you pay on most goods and services. % of VAT What the rate…
In shops Any VAT due is already included in the price of something you buy…
You’ll pay a rate of either 5% or 0% VAT when certain energy-saving…
If you’re over 60, you pay a reduced rate of VAT (5%) on certain mobility…
You can only buy tax-free goods from shops: in Great Britain (England,…
Tobacco Duty is included in the price you pay for cigarettes, cigars and…
Fuel Duty is included in the price you pay for petrol, diesel and other…
Airlines pay Air Passenger Duty (APD) for every passenger who flies from…
Insurance Premium Tax (IPT) is usually included in the price you pay for…
Reports on departmental spending over £500 with a government procurement card (GPC).
How to charge VAT, calculate VAT, VAT rates, reclaim VAT on business expenses, keep digital records.
Accounting for VAT using retail schemes if you're a VAT-registered business and you cannot account for VAT using normal accounting.
Claim capital allowances so your business pays less tax when you buy assets - equipment, fixtures, business cars, plant and machinery, annual investment allowance, first-year allowances.
Retailers can calculate the VAT they have to record in their account per day or week instead of for each sale
Find out the general rules for the Apportionment Retail Schemes (1 and 2), how the scheme works, records you must keep and how to work out your VAT.
Your purchasing strategy must show you’ve considered commercial and technology aspects, and contractual limitations.
Don’t include personal or financial information like your National Insurance number or credit card details.
To help us improve GOV.UK, we’d like to know more about your visit today. Please fill in this survey (opens in a new tab).