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The VAT Flat Rate scheme is intended to simplify VAT accounting and reporting for small businesses.
Jul 08, 2016
Did you know that if you are building a new house, or converting a property into a home, then you can apply to HMRC for a VAT refund on the building materials and services?
Jun 09, 2016
The dog ate my tax return is not a reasonable excuse! However, it has been announced that HMRC will not contest appeals against the £100 late filing penalty in respect of 2013/14 tax returns, where the taxpayer provided a reasonable excuse for not filing on time. – Read More
In last year’s Finance Act it was announced that the VAT rules for dealing with prompt payment (or early settlement) discounts would be changing from 1st April 2015. HMRC have now issued brief 49/2014 setting out guidance for businesses affected by the change, many of whom may need to change their invoicing procedures. – Read More