New rules that make changes to the issuing of credit notes under certain circumstances will come into effect from 1 September 2019. The changes have... Continue reading
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Category: Value Added Tax
With the new Prime Minister, Boris Johnson appearing to take an increasingly hard-line, the chances of Britain leaving the EU without any working agreement, known... Continue reading
VAT registered businesses with a turnover above the VAT threshold, need to be ready to keep digital records for VAT purposes using Making Tax Digital... Continue reading
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where there... Continue reading
HMRC imposes a VAT default surcharge on businesses that submit late VAT returns. VAT registered businesses are required by law to submit their return and... Continue reading
The artificial separation of businesses is where two or more businesses are split, and each 'separate' entity operates below the VAT registration threshold (currently Continue reading
A change to the VAT rules first announced at Budget 2018, will come into effect from 1 October 2019. This change will make the supply... Continue reading
There are distinct rules that VAT registered businesses must follow when keeping VAT records. This includes keeping proper business and accounting records, a separate VAT... Continue reading
Starting from April 2019, most VAT-registered businesses that have a taxable turnover over £85,000 are required to keep their VAT records digitally and use Making... Continue reading
A Margin Scheme is an optional method of accounting which allows certain businesses to calculate VAT based on the 'value' they add to the goods... Continue reading
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