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.
Cashflow assistance announced with no VAT payment until after 30 June 2020
The statement from the Chancellor at the Government Press Conference last Friday evening (20 March 2020) provided cashflow assistance in the form of a VAT Deferral Scheme that will be widely appreciated by the business community and may well reignite some well needed...