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News

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Is Making Tax Digital Fit for Purpose?

CIOT has just published the results of its survey on the use of MTD which makes for interesting reading with amongst other findings 90% of respondent stating that MTD did not reduce errors and the cost of compliance has far exceeded government estimates. The results of the survey are being shared with HMRC and the government, so is the system working in practice?

Paying Back VAT When You Deregister

UK VAT-registered businesses may be required to deregister when it ceases to make taxable supplies and, furthermore, businesses can deregister voluntarily should the value of taxable supplies made fall below the deregistration threshold of £83,000.