So it seems that HMRC do have a view on BTC apparently (http://www.coindesk.com/hmrc-uk-bitcoin-exchanges-dont-have-to-register-under-money-laundering-regulations/), who'd have thought it - very progressive 
. No word on VAT
The VAT situation is incredibly simple for good/services sold in BTC, it's just any other non-local currency.. No word on VAT