by admin | Oct 2, 2018 | Accountancy, Business, HMRC, Making Tax Digital, VAT
The start date for Making Tax Digital (MTD) for VAT is fast approaching. If you are a VAT-registered business with turnover in excess of the VAT registration threshold of £85,000, you will need to comply with the requirements of MTD for VAT from the start of...
by admin | Aug 29, 2018 | Tax, The Economy, VAT
HMRC has issued guidance to inform UK businesses of the implications for VAT rules, where goods and services are traded between the UK and EU member states, if the UK leaves the EU on 29 March 2019 with no agreement. It is important to appreciate that this is...
by admin | Apr 25, 2018 | Accountancy, Business, HMRC, Making Tax Digital, Self Employed, Tax, VAT
WHAT’S GOING ON? Two years ago, it was proposed that Her Majesty’s Revenue and Customs (HMRC) was to move to a fully digital based tax system. By the end of the 2020/21 tax year the way that businesses, including landlords, currently interact and liaise with HMRC will...
by admin | Apr 19, 2018 | Accountancy, HMRC, VAT
What do you do if you make an error on your VAT return? Answer Mistakes are easy to make and HMRC recognises this by allowing you to correct for errors on your next VAT return provided that it complies with a few rules. VAT errors below £10,000 As the title...
by admin | Nov 24, 2017 | Making Tax Digital, Self Employed, Tax, Tax Planning, The Budget, VAT
VAT To the relief of many there will be no immediate reduction to the VAT registration threshold although it will remain frozen at £85,000 for two years. The government will keep this issue under review, they will consult on the design of the threshold and consider...
by admin | Aug 7, 2017 | Accountancy, Business, HMRC, Self Employed, Tax, VAT
From September 2017, HMRC will make it a requirement for all businesses using their online tax accounts to register for 2 Step Verification (2SV) – if not already using it. The result of this minor change means greater security for customers and a safer experience...