#VAT Tag

These are the suggested reimbursement rates for employees' private mileage using their company car from 1 March 2021. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 10p   7p 1600cc or less 9p (8p) 1401cc to 2000cc 12p (11p) 8p 1601 to 2000cc 11p (10p) Over 2000cc 18p (17p) 12p 12p Note that for hybrid cars...

Following the UK’s departure from the EU, the government intend to establish new Freeports as a means to boost trade, jobs and investment across areas of the UK.   What are Freeports? Freeports operate as secure customs zones, they are usually located at ports or airports, where businesses...

The reduced 5% rate of VAT for goods and services supplied by the tourism and hospitality sector has been extended to 30 September 2021. To help support businesses further there will be a transitional rate of 12.5% from 1 October to 31 March 2022 with the...

  Businesses that deferred VAT payments last year can join the new scheme to pay it in smaller monthly instalments.   If you deferred VAT payments due between 20 March 2020 and 30 June 2020 and still have payments to make, you can:   Pay the deferred amount in...

Are you ready for the introduction of the new way of accounting for VAT in the Building and Construction Industry?   This comes into force with effect from 1 March 2021.   The government had previously announced a delay to the introduction of the domestic reverse charge for the...

If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full on or before 31 March 2021 opt into the VAT deferral new payment scheme when it launches in 2021 contact...

HMRC has issued guidance on paying deferred VAT. If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full on or before 31 March 2021 opt into the VAT deferral new payment...

In his recent spending review Rishi Sunak said the "economic emergency" caused by Covid-19 has only just begun, as he warned the virus would mean lasting damage to growth and jobs. Official forecasts now predict the biggest economic decline in 300 years. The UK economy is expected...

From 1 January 2021, the UK will apply a UK-specific tariff to imported goods. This UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until 31 December 2020. The UKGT will apply to all goods imported into the UK unless: An exception applies,...