New VAT penalty regime for late returns and late payment
A new, and arguably fairer, system for determining penalties for late returns and late payment of VAT applies to return periods commencing on or after
10th March 2023
A new, and arguably fairer, system for determining penalties for late returns and late payment of VAT applies to return periods commencing on or after
No extension has been granted to the leisure and hospitality sector for use of the reduced 12.5% VAT rate on eligible supplies including food, non-alcoholic
Green technology, including solar panels and heat pumps, will be exempt from business rates in England from April 2022, a year earlier than originally planned.
HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union. Businesses
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to
Currently only VAT registered businesses making taxable supplies in excess of the £85,000 VAT registration threshold are mandated to comply with Making Tax Digital (MTD)
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