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As of 1st April the VAT registration threshold has been raised from £85,000 to £90,000. The VAT move is set to benefit up to 28,000 small businesses, who will no longer meet the threshold for VAT submissions. The change is […]
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Simplifying the VAT Land Exemption – Summary of Responses Published Following a call for evidence on “Simplifying the VAT Land Exemption” HMRC have published a summary of responses in November 2021. The purpose of the call for evidence was to […]
Read MoreIn March 2021, the government extended the carry back of losses for businesses. There is a temporary extension to the carry back rules and the period of time to claim trade losses. As announced in the Budget 2021, the period […]
Read MoreThe new VAT payment deferral scheme is now open. Find out what the scheme involves, how to apply and where to get further support. What is the VAT payment deferral scheme? If you deferred VAT payments due between 20 March […]
Read MoreNew rules on how VAT is handled in the building and construction services industry come into force on 1 March 2021. Read on to learn about what the VAT construction reverse charge is, who it applies to, and how it […]
Read MoreFor VAT-registered companies, reimbursing employee expenses can be a minefield. You may be entitled to claim back VAT on expenses and it’s important to remember that they should be treated as anything else you buy for your business. However, many […]
Read MoreIn light of the coronavirus pandemic, HMRC has confirmed that companies will not be required to make VAT payments for three months from 20 March 2020 to 30 June 2020. Who is eligible for coronavirus VAT payments suspension? This change […]
Read MoreDo you have a June VAT quarter end? Is this your first month filing under Making Tax Digital? If so – do not leave it too late to sign up with HMRC to file under MTD and link your MTD software […]
Read MoreSupplier statements can now be used to record expenses HMRC’s latest update to its Making Tax Digital (MTD) policy is welcome news for businesses which use spreadsheet accounting. When MTD was originally introduced on April 1, businesses were required […]
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