What is VAT? VAT (Value Added Tax) is a consumption tax levied on the value added to goods and services at each stage of production or distribution. It is collected by businesses
Spring Budget 2024 On Wednesday 6 March, chancellor Jeremy Hunt delivered his Spring Budget 2024, only three and a half months after his Autumn Budget 2023. He presented updated forecasts from the
VAT penalty points came into effect on 1 January 2023; if you submit a VAT Return late (including nil payment returns) you will receive penalty points. The VAT default surcharge is being
Experts warning over insolvency debts Prioritising HMRC over other creditors in insolvencies will have a 'negative impact on the UK's economic growth', experts have warned Chancellor of the Exchequer Sajid Javid. The
VAT domestic reverse charge for building and construction services delayed HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services. The reverse
VAT changes may cause construction chaos The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector
Employer Bulletin - latest guidance HMRC has issued the June 2019 edition of the Employer Bulletin. This includes articles on a number of issues including: labour supply chain fraud using loans to
Latest MTD for VAT HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the latest MTD
VAT fuel scale charges HMRC has issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1
Making Tax Digital for VAT: Start date looming Making Tax Digital update: The Financial Secretary to the Treasury, Mel Stride, has made a statement to the House of Commons setting out HMRC's progress