by admin | Mar 26, 2019 | Value Added Tax |
There are special VAT rules that allow two or more corporate bodies to be treated as a single taxable person for VAT purposes known as a VAT group. Advantages of group registration The representative member accounts for any tax due on supplies made by the group to...
by admin | Mar 26, 2019 | Value Added Tax |
The deadline for businesses with a turnover above the VAT threshold to keep digital records for VAT purposes using Making Tax Digital (MTD), is almost here. For VAT returns periods starting on or after 1 April 2019, businesses with a turnover above the VAT threshold...
by admin | Mar 20, 2019 | Value Added Tax |
In a letter being sent to businesses across the country, HMRC has published the following information on the effect a no-deal Brexit would have on changes to VAT IT systems. We have reproduced below a summary from the letter of the main announcements made by HMRC on...
by admin | Mar 14, 2019 | Value Added Tax |
As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when the deposit is received. It is important that businesses ensure that the VAT element of any deposits received is accounted for correctly. Usually this will...
by admin | Mar 6, 2019 | Value Added Tax |
The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on or after 1 April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will be required to start keeping their...
by admin | Feb 27, 2019 | Value Added Tax |
Where an error on a VAT return is discovered, VAT registered businesses have a duty to correct the error as soon as possible. As a general rule, you can use a current VAT return to make an adjustment to a past VAT return. However, in order to be able to do so, there...
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