Catering contractor fined £128,000 after failing to register for VAT
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.
Weeks left to apply for VAT mini one stop shop, accountants warn
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.
Businesses may have to apply both acquisition and import VAT on transactions spanning transition period, Government confirms
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.
UK VAT refund scheme extended in response to overseas coronavirus disruption
International businesses affected by Covid-19 will have more time to make UK VAT refund claims, it has been confirmed.
New Year, new start: business planning and strategising for 2021
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.
Covid-19: New VAT deferral payment scheme to open for applications from “early 2021”, Government reveals
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.
Access to European Union VAT refund system to end on 31 March 2021, HMRC confirms
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.
VAT reinstated on personal protective equipment, Government confirms
The Government’s temporary VAT relief on personal protective equipment (PPE) will not be extended, it has been confirmed.
VAT changes “will impact” registered businesses not yet signed up to Making Tax Digital, says ICAEW
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.
Chancellor extends VAT cut for hospitality and leisure sectors
The Chancellor’s VAT cut for businesses in the hospitality and leisure sectors will be extended until the end of March next year, it has been announced.