Common VAT problems
Once you understand the basics, VAT is reasonably straightforward. But there are some areas where it is easy to make mistakes. These can lead to stringent penalties, and ignorance is no defence.
It makes sense to be aware of some of the more common pitfalls, and to know where to get help and advice.
Join a thriving community of skilled directors and leaders
Ask us about membership
Better directors for a better world
The IoD supports directors and business leaders across the UK and beyond to learn, network and build successful, responsible businesses.
Extending your financial knowhow
Browse valuable finance and tax resources from the IoD.