Covid-19 Updates

UPDATED 16/02/21 - If you took advantage of the VAT payment deferral due to Covid-19, HMRC has issued guidance on how to pay your outstanding VAT liabilities, including details of a new payment scheme. - Read More

It has already been delayed twice, but despite the ongoing difficulties caused by the Covid pandemic the VAT domestic reverse charge is still set to take effect from 1 March 2021. - Read More

HMRC is warning VAT-registered businesses of the new Brexit trading rules which will come into effect when Britain leaves the EU on 31 December 2020. It's important to put new procedures in place now to ensure your business is ready. - Read More

The government has published an overview of its Making Tax Digital scheme, outlining plans to extend the MTD rules for both VAT and Income Tax. - Read More

The new anti-fraud domestic reverse charge VAT scheme was due to be introduced in the construction sector from 1 October 2020, but it has now been postponed for a period of 5 months until 1 March 2021. - Read More

HMRC is introducing a ‘domestic reverse charge’ for building services, meaning the construction industry will have to start using a new method of accounting for VAT. - Read More

Read our step-by-step guide on how to sign up for MTD for VAT, so you are fully compliant with the new rules before your next VAT return is due. - Read More

With the new rules for Making Tax Digital for VAT coming in April 2019, it’s now even more important to know if and when you need to register your business for VAT in order to avoid a fine from HMRC. - Read More

There are still more questions than answers relating to Brexit, but HMRC has updated its guidance on how VAT rules will change in the event of a no deal to help businesses prepare. - Read More

Despite all the uncertainty surrounding Brexit, the clock is still ticking to 1 April 2019, when MTD for VAT comes into force and businesses will have to change the way they submit VAT. Here's how to make sure you're ready. - Read More

There are fewer than 150 days remaining until the UK is scheduled to leave the EU, and there’s still a huge amount of uncertainty around the type of deal which will be secured. Small and medium sized businesses (SMEs), whether they trade with EU countries or not, could face a substantial amount of financial ambiguity at this time, and so it pays to be sufficiently prepared. - Read More

Under new rules due to come in on 1 October 2019, builders, sub-contractors and other trades associated with the construction industry will have to get their heads around a new method of accounting for VAT - dubbed the reverse charge. - Read More

The current VAT threshold is considered a barrier to growth for small businesses, and alternative options are being considered to smooth its 'cliff-edge' effect. - Read More

Adopting cloud accounting has always had its benefits, but the imminent arrival of HMRC’s Making Tax Digital initiative makes it even more pertinent. - Read More

By April 2019, Making Tax Digital (MTD) for VAT means your accounting system will need to submit your VAT return to HMRC digitally, using "functional compatible software". - Read More