Changes to the VAT penalty regime
As if there haven’t been enough changes to contend with in recent times in the ever-evolving world of VAT; Making Tax Digital, Domestic Reverse Charge, temporary VAT rate changes as a result of Covid-19 and our good friend Brexit; further changes are...
Making Tax Digital for VAT
Most UK businesses that were VAT registered on a compulsory basis were obliged to sign up for ‘Making Tax Digital’ (MTD) from April 2019. At that time, there were exemptions available including any person or entity that had a voluntary VAT registration....
Construction Industry Domestic Reverse Charge (DRC) VAT
The Construction Industry Domestic Reverse Charge (DRC) was brought in on 1 March 2021 and changes the treatment of VAT in the construction industry. It was brought in as HMRC felt there was a risk in the construction industry of sub-contractors charging VAT on their...
Construction Sector: Reverse Charge VAT
The effects on supply chains from 1 March 2021.
