Businesses are missing out on ‘significant’ revenue due to unclaimed VAT
UK businesses are losing 12 per cent of their revenue because they are failing to reclaim VAT, the latest research has revealed.Continue reading
Category Archives: VAT
Budget 2021: Hospitality businesses call for extended VAT cut
Due to the prolonged impact of coronavirus on the hospitality industry, firms within this sector urge Chancellor Rishi Sunak to extend the VAT reductions for a year in the Budget.Continue reading
Construction industry VAT reverse charge to come into effect on 01 March, Government confirms
The delayed Construction Industry Scheme (CIS) VAT reverse charge will come into effect on 01 March 2021, it has been confirmed.Continue reading
EU exports halt as UK firms encounter extra charges
Due to the new trade rules that came into effect on 1 January 2021, many UK businesses, who export to the EU, have been hit by extra charges, taxes and paperwork. Some have stopped exports to the EU as a result. Continue reading
HMRC urges businesses to act ahead of end of transition period to “avoid disruption”
HM Revenue & Customs (HMRC) has written to over 250,000 VAT-registered businesses urging them to “act now” ahead of the end of the Brexit transition period.Continue reading
Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed
From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first.Continue reading
HMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022
HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022.Continue reading
Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms
Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed.Continue reading
IR35: Off-payroll working rules to go ahead in April 2021
Major changes to the off-payroll working rules will go ahead in April 2021, it has been confirmed.Continue reading
COVID-19: The key dates for your tax diary
There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements, with many being amended, delayed or deferred over the past few months.Continue reading
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