VAT
Changes coming in 2022 for VAT
End of COVID VAT Deferred Payments All UK VAT registered businesses had the option of deferring any VAT payments due between 20 March 2020 to 30 June 2020. They could opt in...
Making Tax Digital and Digital Links for VAT Registered Businesses with a turnover below the VAT Registration Threshold
Making Tax Digital (MTD) was brought in back in April 2019 for VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000). For periods...
Online Conferences/Events and VAT post Brexit
Over the past year and a half many events and conferences have moved online. Even with the easing of restrictions many providers are keeping an online option available. Last...
Changes to the 5% reduced rate for the hospitality sector
Back in July 2020 the VAT rate for the hospitality sector was reduced to 5% for – Restaurants Pubs Bars Cafes Hot takeaway food The reduced rate applies to food,...
Considerations before deregistering from VAT
Many businesses have experienced significant decreases in turnover due to the current economic climate and maybe considering voluntarily deregistering from VAT if their...
Making Tax Digital – Digital Links
Making Tax Digital (MTD) was brought in back in April 2019 for VAT registered businesses with a turnover above the VAT registration threshold (currently £85,000). All...
Reverse Charge Services and VAT registration
If you buy in services from outside the UK you may not be aware that these count as part of your taxable turnover (unless the supply of service is an exempt supply). These...
VAT – Common queries and mistakes
Never a week goes by without a VAT question coming across our desks. As you can imagine, we see some pretty horrible VAT mistakes! This is an area where we add value to our...
Postponed VAT Accounting (PVA)
What is Postponed VAT accounting? PVA gives companies the option to account for and recover VAT on imported goods on the same VAT return instead of paying the VAT upfront then...
Domestic VAT Reverse Charge for construction services
Back in 2019 changes to the way the construction industry accounts for VAT were announced. The domestic reverse charge mechanism was originally planned to come into effect on...
VAT deferred payments – Updated 11 Feb 2021
HMRC announced that all UK VAT registered businesses that had a VAT payment due in the period 20 March 2020 to 30 June 2020 could defer payment until 31 March 2021. Businesses...
Changes to filing of non-MTD VAT returns
HMRC introduced the first phase of Making Tax Digital (MTD) nearly two years ago and they have now announced that non-MTD VAT submissions via software providers will not be...