by Admin | Nov 28, 2023 | Business Advice and Tax, General news, VAT
VAT on Imports: CDS Changes Every Business Must Know Businesses in the UK must pay VAT on imports on goods worth more than £135. Since Brexit, this has included goods imported from the EU. Due to the potential cashflow implications this may have on businesses, HMRC...
by Admin | Oct 6, 2023 | General news, VAT
Are you one of the 5% of new or existing businesses planning to register for VAT using the current paper VAT1 form? If yes, you need to be aware that from next month, the paper VAT 1 form will no longer be available to download from the GOV.UK website. From November...
by Admin | Jul 3, 2023 | HMRC, VAT
In addition to self- serve time to pay arrangements for self-assessment, HMRC has now launched self-serve time for VAT registered business subject to certain conditions. These conditions are as below: The business must: Be VAT registered; Owe £20,000 or less; Have...
by Admin | Dec 12, 2022 | HMRC, VAT
Prepare for upcoming changes to HMRC’s VAT late payment penalty and VAT interest charges As of November 2022, all VAT-registered businesses were required to submit their returns via Making Tax Digital software. In line with this, from 1st January 2023, HMRC is...
by Admin | Oct 5, 2022 | HMRC, Making Tax Digital, VAT
Making Tax Digital deadline for VAT The Making Tax Digital deadline for VAT is less than a month away. Find out what to do to be ready and avoid any penalties What is Making Tax Digital Making Tax Digital (MTD) is an initiative by HMRC to get all businesses reporting...
by janemaynard | Jun 1, 2021 | General news, VAT
The VAT deferral scheme deadline is looming. Find out what you need to do to avoid penalties. Businesses that deferred the payment of Vat last year due to Coronavirus have until 30 June 2021 to either pay or arrange instalments to avoid a 5% penalty. If full payment...
