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...
Update: Making Tax Digital for 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
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... VAT Agricultural Flat Rate Scheme
This scheme has been in existence since 1st January 1993, and is an alternative to VAT registration for farmers and certain other people involved in agricultural production activities or similar, as defined by HMRC. The trader should charge a “Flat Rate Addition”...