Postponed VAT Accounting: How does it work?

Postponed VAT Accounting: How does it work?

by | Apr 29, 2024 | Latest

In a post-Brexit Britain, SMEs find themselves subject to import VAT on all goods worth more than £135 bought from EU companies as well as those outside the EU. Traditionally, businesses paid import VAT either as the goods reach the border, or via a Duty Deferment...
Making Tax Digital for Income Tax Self Assessment

Making Tax Digital for Income Tax Self Assessment

by | Jan 9, 2023 | Latest, Tax

In December, the Government pushed back their plans for Making Tax Digital for Income Tax Self Assessment – here’s what you need to know. It’s becoming increasingly difficult to ignore the fact that we’re living in a digital world. Whether you use Apple...
New VAT penalties to apply from January 2023

New VAT penalties to apply from January 2023

by | Dec 12, 2022 | Latest, Tax

As we welcome in the New Year, HMRC will be welcoming a new penalty system for the late filing of VAT returns, amongst other changes… On the 1st January 2023 there will be a new points-based penalty system implemented for the late filing of VAT returns, and new...