Making Tax Digital for VAT

16 Mar 2022 | Firm News, MTD, Self Assessment, 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

31 Mar 2021 | Building & Construction, Firm News, 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

5 Jan 2021 | Building & Construction Guides, Publication, VAT

The effects on supply chains from 1 March 2021.

Cashflow assistance announced with no VAT payment until after 30 June 2020

23 Mar 2020 | Firm News, VAT

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...

Update: Making Tax Digital for VAT

3 Dec 2019 | Firm News, VAT

Making Tax Digital (MTD) started becoming mandatory from 1 April 2019, meaning that the vast majority of VAT-registered businesses that are on a quarterly stagger should have submitted their first MTD VAT returns by now. I say ‘should’ since an HMRC...

The Danger of VAT Partial Exemption for Farmers

24 Oct 2019 | Farming and Agriculture, Firm News, VAT

A favourite tried and trusted technique for Government in raising taxes is to forget to uplift a threshold. Given the effluxion of time and a dose of inflation (albeit the latter has less of an eroding effect in the modern era), more and more tax payers will move...