Inconsistent VAT Treatment Costs Further Education Colleges Billions Each Year Introduction Members of Parliament from across the political spectrum have voiced their concerns over the… Read More »MPs raise concerns over inconsistent VAT treatment of further education
Starting in 2023, submitting a VAT return after the deadline will result in penalty points. These points can add up, resulting in fines of up to £200 for each subsequent late submission. It’s important to understand how the points system works and how to avoid these penalties. For example, businesses making quarterly returns have a higher threshold for penalty points compared to those making annual or monthly returns. It’s also important to note that changes to your business, such as switching to a different accounting period, can affect your penalty points. If you have questions or need help managing your VAT, contact us for expert assistance
Just about everyone has heard of VAT (value-added tax). We’re used to paying it on many of the goods and services we purchase in our… Read More »Choosing the right VAT scheme for you.
Last month it was announced that plans for two new penalties regimes would come into effect in January 2023. These were due to be implemented… Read More »New Tax Penalties – MTD for VAT
In this article we will be looking into recent changes that affect the CIS. The construction sector remains one of the UK’s key sectors, despite… Read More »CIS – Construction industry scheme
New businesses can still grow and flourish. Not much can stop determined entrepreneurs from building a new business from the ground up. Even during such challenging… Read More »Starting a new business after COVID-19
VAT is a business tax on the supply of goods and services. VAT is charged at varying rates depending on what is being supplied. It… Read More »An introduction to VAT for a UK business.
The deadline to pay deferred VAT is the end of June. Due to the impact of coronavirus, VAT payments between 20 March 2020 and 30… Read More »June deadline for deferred VAT payment.
Businesses that deferred paying VAT between 20 March 2020 and 30 June 2020 do not need to pay the full amounts by the end of… Read More »OPT-IN TO VAT DEFERRAL NEW PAYMENT SCHEME BY 31 MARCH 2021
Those working in the UK’s construction industry will have to handle and pay VAT differently from 1 March 2021, unless there’s another last-minute Government U-turn.… Read More »Construction sector: Reverse charge VAT