Launched earlier this year, the new super-deduction is a capital allowance created to help companies looking to invest in new qualifying plant and machinery. Designed specifically to encourage firms to invest in assets that will help them grow and recover from the impact of COVID-19, this new tax relief is part of the Government’s package…
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A catering contractor who failed to register for VAT despite earning well above the registration threshold has been fined and banned from running a company for seven years.
UK businesses who have supplied digital and telecommunication services to the EU since 01 January have just weeks remaining to apply for the non-union VAT mini one stop shop (MOSS), it has been warned.
HM Revenue & Customs (HMRC) has confirmed that both acquisition VAT and import VAT may apply on transactions spanning the end of the Brexit transition period.
International businesses affected by Covid-19 will have more time to make UK VAT refund claims, it has been confirmed.
Due to the unprecedented challenges 2020 has thrown our way, businesses have had to adapt quickly to new hurdles and coronavirus-related restrictions. However, with the year coming to an end, it is essential to get set for the year ahead with budgeting, effective cash flow management, plus forecasting and management accounts.
Businesses that want to pay deferred VAT in instalments throughout the 2021/22 tax year must register for a new scheme by 31 March 2021, it has been confirmed.
HM Revenue & Customs (HMRC) has confirmed that access to the European Union VAT refund system for expenses occurred before 01 January 2021 will cease on 31 March 2021.
The Government’s temporary VAT relief on personal protective equipment (PPE) will not be extended, it has been confirmed.
Major changes to HM Revenue & Customs’ (HMRC) VAT filing system “will impact” VAT-registered businesses who have not yet signed up to Making Tax Digital (MTD), it has been warned.
