In the latest move in their Making Tax Digital (MTD) campaign, HM Revenue & Customs (HMRC) is removing paper VAT registration from 13 November 2023. Read More
HM Revenue and Customs (HMRC) has always been at the forefront of embracing technological advancements to make tax-related processes more straightforward for businesses and individuals.
Knowing your charity’s obligations to HM Revenue & Customs (HMRC) is important, as you will have different requirements to standard businesses.
HM Revenue & Customs (HMRC) have recently confirmed that businesses that owe less than VAT £20,000 can now set up a payment plan online. Read More
HM Revenue & Customs (HMRC) has removed the default surcharge for late payments of VAT and replaced it with what is a new penalty charge. The way interest is charged has also been amended. Read More
A roof replacement company has been hit with a £2.5 million tax bill after a ruling that the insulated roof panels it supplied did not qualify for a VAT-reduced rating.
It’s important to stay up to date with the latest regulations and requirements related to taxes, including Value Added Tax (VAT) to avoid penalties.
If you are running a business, handling VAT returns can be complex.
You may have submitted returns with errors previously if you were unsure of what to do and could be at risk of further investigation or fines from HM Revenue & Customs (HMRC).
HMRC is launching a new penalty regime where VAT returns are submitted late or VAT is not paid on time.
When running a business, ensuring you get VAT right is vital. So, how can you make things easier?