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[…]

Making Tax Digital

The income tax system as we have known it for the last 20 years is about to change dramatically. From April 2018 businesses whose turnover exceeds £85,000 will be required to keep their records in a digital format and to send HMRC an electronic quarterly summary of income and expenditure. After the end of the accounting[…]

An introduction to VAT

This article looks at VAT for beginners including rates and schemes If you’re expecting your turnover to exceed £82,000 this year, then you’re probably having mixed feelings. On the one hand reaching this figure, the VAT registration threshold, is a sign of success. Many consider this a moment when their fledgling venture can truly be[…]

Plan now for New Year VAT rise

Start planning for the New Year VAT hike or you could risk a hangover that runs well into January. You don’t need an accountant to tell you that from 4 January 2011 businesses will have to increase the VAT rate they charge their customers to 20%. But what you may need to know is exactly[…]