by admin | May 4, 2023 | Value Added Tax |
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT registration. Businesses charge VAT on their sales. This is...
by admin | Apr 27, 2023 | Value Added Tax |
The Notification of Vehicle Arrivals (NOVA) is an online notification system for vehicles entering the country for permanent use on UK roads. You can use the service if you are: a VAT-registered business that does not use the secure registration scheme; not...
by admin | Apr 6, 2023 | Value Added Tax |
New simplified VAT guidance for overseas sellers has been published by HMRC. The guidance also includes a new translation into simplified Mandarin to help support Chinese retailers that sell goods online into the United Kingdom. The guidance provides further...
by admin | Mar 23, 2023 | Value Added Tax |
The first monthly returns and payments affected by HMRC’s new VAT penalty regime were due by 7 March 2023. The new VAT penalty rules apply to the late submission and / or late payments of VAT returns for VAT return periods beginning on or after 1 January...
by admin | Mar 2, 2023 | Value Added Tax |
The first monthly returns and payments affected by HMRC’s new VAT penalty regime are due by 7 March 2023. The new rules apply to the late submission and / or late payments of VAT returns for VAT return periods beginning on or after 1 January 2023. Under...
by admin | Feb 23, 2023 | Value Added Tax |
The transfer of a business as a going concern (TOGC) rules concern the VAT liability of the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate. Where the sale of a...
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