Construction sector: Reverse charge VAT

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. This is when the VAT domestic reverse charge for building and construction services, to use its full name, will finally take effect at the third time of asking. In this[…]

Covid-19 VAT Deferral Scheme 20 March 2020

Eligibility On 20th March 2020, the Chancellor of the Exchequer, Rishi Sunak, announced several measures to help businesses across the UK who will be affected by the Covid-19 coronavirus. The situation is changing daily and there is scant detailed information coming from the government. We will keeping our website up to date and ensuring we give you the[…]

Registering for Making Tax Digital for VAT

MTD zero-hour is here The moment has come: if your business has a taxable turnover above the VAT-registration threshold, which is currently £85,000, you’re now obliged to keep records in digital form and to file your VAT returns using HMRC-approved software. You probably got a bit fed up of being reminded about the deadline for[…]

Deregistering for VAT

When and how to begin the process of deregistration These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold. Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as[…]

Making Tax Digital for VAT-registered businesses

Obligations from 1 April 2019 onwards Although the Making Tax Digital (MTD) regime has suffered several setbacks and delays, MTD for VAT remains on course to take effect from its planned implementation date of 1 April 2019. Under the scheme, VAT-registered businesses are required to maintain digital records, complete the VAT return from the digital[…]