Vale & West Chartered Accountants Blog

Category Archives:Lee Gardner

Serco fined additional £23 million over false accounting charges

Outsourcing giant Serco has been fined an additional £23 million over fraud and false accounting charges, a report has revealed. Read More

Exemptions for Making Tax Digital for VAT

Business owners who need special software for accessibility reasons when filing returns for Making Tax Digital (MTD) but are unable to find the right software, are eligible to apply to HM Revenue & Customs (HMRC) for a temporary exemption. Read More

First MTD-compatible VAT returns filed

Although the first Making Tax Digital (MTD) for VAT filing deadline passed without too many problems on 7 May, the biggest test will come on 7 August, when the largest wave of the 1.1 million VAT registered businesses in the UK have to file under the new system for the first time. Read More

Construction firms in taxman’s VAT sights

HM Revenue & Customs (HMRC) has warned businesses in the construction sector that it plans to introduce new rules that will affect them as it aims to tackle VAT fraud. Read More

Government urged to scrap VAT changes on renewables

Trade associations representing the smart power industry have written a joint letter to the Government and have called for proposals to raise VAT on certain energy-saving materials to be scrapped. Read More

Audit of insolvent company uncovers £40,000 in concealed assets

A travel operator has been shut down after attempting to hide £40,000 in company assets. Read More

Proposal to increase VAT on energy-saving materials

The Renewable Energy Association (REA) has urged the Government not to increase the VAT rates attached to some energy-saving materials, including solar and battery storage. Read More

Import VAT deducted as input tax by non-owners

The Government has recently released an updated brief on the correct treatment for the deduction of import VAT paid by a ‘taxable person who is not the owner of the relevant goods’. Read More

Start-ups waiting for funding to be processed

A new report suggests that eligible start-up businesses have been waiting on average more three times longer than they should be to access funding from a Government programme. Read More

A matter of days before MTD

There are now only a few days before Making Tax Digital (MTD) is introduced for more than a million businesses in the UK on 1 April. The new regulations mean that most businesses above the £85,000 threshold will need to keep their records digitally and submit their VAT return using MTD-compatible software. Read More

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