Finance | Bill Lewis | 23 Jan 2009

Experts present an update on recent VAT and tax technical points.

Reverse charge reversal

Most aspects of VAT are difficult if one looks closely at the situation, but none more so than the reverse charge. This is a counter-intuitive measure which creates output tax liabilities out of purchases, and can cause the need for an organisation to register for VAT even if it makes no taxable supplies whatever.