Vale & West Chartered Accountants Blog

Category Archives:VAT

New VAT penalty regime – What do you need to know?

HMRC is launching a new penalty regime where VAT returns are submitted late or VAT is not paid on time.

Read More

Flat Rate Scheme: What do you need to know?

When running a business, ensuring you get VAT right is vital. So, how can you make things easier?

Read More

New VAT Registration Service (VRS) set to launch

HMRC is introducing a new VAT Registration Service (VRS), it has been revealed. Read More

Steep price rise warning as hospitality businesses yet to receive Omicron funding

The hard-pressed hospitality industry is facing some difficult choices after the temporary cut in VAT to 12.5 per cent reverted to the full 20 per cent. It will result in double-digit price increases for consumers as operators struggle to survive, leading industry body UKHospitality says.

Read More

Getting the data right is key to growth in hospitality

Hopes that the temporary VAT cut for hospitality would be extended were dashed in Chancellor Rishi Sunak’s Spring Statement this week.

Read More

HMRC to close helplines one day a week to clear backlog

VAT and Corporation Tax helplines at HM Revenue & Customs (HMRC) will close for one day a week to help clear the backlog built up during the COVID-19 pandemic. Read More

Penalty reform for VAT delayed until January 2023

The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury). Read More

Businesses that do not use MTD for VAT make more errors than those that do, study reveals

Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.

Read More

Campaign launched to peg VAT at 12.5 per cent for hospitality and tourism

Setting the VAT rate permanently at 12.5 per cent will create more than 100,000 jobs and boost investment in the UK, according to a new campaign.

Read More

Transitionary rate of VAT for hospitality comes into force

The temporary reduced rate of VAT for hospitality has increased to a transitionary rate from today, 01 October 2021. Read More

Address: 26 Queen Victoria Street, Reading, Berkshire RG1 1TG
Telephone: 0118 957 3238
Fax: 0118 956 7282