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Ready to make customs declarations?

HMRC has written to VAT registered businesses across the country to remind them to be prepared for new trading rules with the EU from 1 January 2021 after the Brexit transition period comes to an end. Time is running short and without having all of

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Accounting for import VAT on a VAT return

From 1 January 2021, businesses will be able to account for import VAT on imports into Great Britain (England, Scotland and Wales) from EU and non-EU countries. Businesses in Northern Ireland will be able to use the postponed VAT accounting for goods

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Consultations on fraud announced

The government has unveiled three new consultations to help combat fraud by reforming the UK’s register of company information. This follows an announcement earlier this year that Companies House will be reformed to clamp-down on fraud and money

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UK Export Finance (UKEF) – Export finance for smaller businesses

UK Export Finance (UKEF) is the export credit agency and a ministerial department of the UK government. The UKEF helps UK companies by providing insurance to exporters and guarantees to banks to share the risks of providing export finance. In

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What is Tangible Moveable Property?

A chattel is a legal term that defines an article which is a tangible moveable property. A tangible object is one that you can touch. The asset has to be a physical asset such as household furniture, paintings, antiques, items of crockery and china,

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UK VAT claims by non-EU businesses

There are special rules for businesses established outside the EU submitting a claim for VAT incurred on goods or services bought in the UK. The exact rules of what VAT is refundable can be complex. There are also a number of conditions which must be

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Deadlines for paying deferred VAT

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March 2020 and 30 June 2020. The option for businesses to defer their VAT payments ended on 30 June 2020. There are two options

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Return to 2019 trading conditions too good to be true?

Right now, any reference to a return to 2019 trading conditions seems to echo the title of this short article, too good to be true. Common sense tells us that we are unlikely to emerge largely, COVID-free until the end of 2021 and additionally, many

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