VAT News

New penalties for late VAT returns

For VAT periods starting on or after 1 January 2023 the default surcharge regime has been replaced by a new penalty points based system. The new penalties will also apply to nil and repayment VAT returns.

12.5% hospitality rate ends on 31 March 2022

Since 1 October 2021 a special VAT rate of 12.5% has applied to certain supplies of hospitality, holiday accommodation and entry to attractions. With effect from 1 April 2022 the VAT rate on these supplies reverts to the standard rate of 20%. The normal rules apply to...

Welcome to a new rate of VAT

From 1 October 2021 a new rate of 12.5% will apply to certain supplies of hospitality, holiday accommodation and entry to attractions.

Reinstate your VAT direct debit now!

The deferral period for VAT payments ends on 30 June. This means that payments due after 30 June (including for May VAT returns) should be made as normal.

Coronavirus – HMRC helpline

HMRC has set up a helpline for businesses who may not be able to pay their taxes on time due to the impact of the coronavirus

Brexit – take two

With a no-deal Brexit on the horizon businesses that trade with the EU need to prepare for the VAT changes that will bring.

Option to Tax Unit – new fax number

All on-line forms dealing with options to tax and revocations of options are currently being updated with the new fax number of the Option to Tax Unit, which is: Fax 03000 516 251 If you need to fax documents to the Option to Tax Unit make sure you are using the...

Making Tax Digital for VAT – a step nearer

The pilot scheme for Making Tax Digital (MTD) for VAT was due to start on 3 April and HMRC are adamant that the full version will start on 1 April 2019. With less than a year to go VAT registered businesses need to be sure that their record-keeping and VAT return submissions will meet the new requirements.

Brexit and VAT – closer to clarity?

The recently published withdrawal transition agreement with the EU says little directly about VAT.  However, it has been agreed that the UK will effectively remain within the EU Customs Union until 31 December 2020 and so this will give businesses more time to adjust...

Developers beware!

In a recent case a developer created an unwelcome VAT cost by the method used to transfer a property

Autumn Budget 2017 and VAT

The Chancellor has not made many changes to VAT, with Making Tax Digital and Brexit on the horizon this is understandable.


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