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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?

Import VAT and VAT registration and de-registration thresholds stay the same

The government has announced that a system of postponed accounting (with VAT declared/recovered via the VAT return and not physically paid at the point of import) will be introduced for all goods imported into the UK by VAT registered businesses from 1 January 2021.

Retrospective Entry to the Flat-Rate Scheme

Julian Anthony Goodman appealed to the First-Tier Tribunal regarding HMRC's decision to refuse retrospective entry to the VAT Flat-Rate Scheme for small businesses. Mr. Goodman provided consultancy services in a self-emp.....

Delay to Introduction of the Domestic Reverse Charge for Construction Services

The proposed introduction of the domestic reverse charge for construction services, due to be implemented from 1st October 2020, has been delayed until 1st March 2021. The introduction of this legislation has already been pushed back from 1st October 2019. The intention of this further delay is to allow businesses time to overcome the challenges posed by coronavirus pandemic.

Spring Budget 2022: Energy saving Materials

As announced in the Chancellor’s spring statement, effective from 1st April 2022 the VAT liability of certain energy saving materials will be cut from the previously applicable rate of 5% to the zero-rate – supplies covered by this change will revert to the reduced rate as of 1st April 2027.

Supplies outside the Scope of UK VAT & VAT Recovery

Vehicle Control Services Ltd appealed against the First-Tier Tribunals decision, which stated that it is necessary to apportion input VAT on general overheads when supplies that are outside the scope of UK VAT are made w.....

Time and Cost Saving VAT Training

We are well aware that professional accountants and in house accounting staff at businesses, charities and other organisations need to maintain their professional development and ensure their VAT knowledge is up to date,.....

How Does the Reverse Charge for Electronic Communication Services Work?

A new anti-fraud measure is set to be introduced that will have a profound effect on business that make wholesale supplies of select electronic communications services such as the exchange of calls and data over landline.....

News

News

Is Making Tax Digital Fit for Purpose?

Import VAT and VAT registration and de-registration thresholds stay the same

Retrospective Entry to the Flat-Rate Scheme

Delay to Introduction of the Domestic Reverse Charge for Construction Services

Spring Budget 2022: Energy saving Materials

Supplies outside the Scope of UK VAT & VAT Recovery

Time and Cost Saving VAT Training

How Does the Reverse Charge for Electronic Communication Services Work?

Rob McCann

Steve Howard

Tamara Habberley

Jack Ray-Atkins

David Miller