VAT Annual Accounting Scheme VAT Annual Accounting Scheme could it be good for your business? VAT-registered businesses normally submit their VAT returns and payments to HM Revenue and Customs 4 […]
Understanding VAT Flat Rate Scheme Understanding the pros and cons of the VAT Flat Rate Scheme for businesses. Value Added Tax (VAT) is a significant consideration for businesses. It impacts […]
HMRC close the VAT registration helpline From Monday 22 May 2023, HMRC will close the VAT registration helpline – a subsidiary of the VAT helpline – which is dedicated specifically […]
The new penalties will impact businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the penalties are due by 7 March 2023. The late […]
For VAT periods starting on or after 1 January 2023, HMRC is replacing the default surcharge with separate penalties for late returns and late payment of VAT. At the same time, HMRC is […]
The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for some specific tax purposes. As an FHL is […]
The VAT Flat Rate Scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with the VAT […]
When you issue an invoice to your customer, you must ensure that you charge the correct rate of VAT. Whilst most businesses in the UK charge VAT at the standard […]
