The next few years will see several significant changes to taxation, including, more immediately, the further expansion of Making Tax Digital (MTD) for VAT in April this year.
The new late submission and payment penalties for VAT have been delayed until January 2023, it has been announced.
Pressure is being ramped up on the Government by the hospitality and tourism sector to keep the rate of VAT at 12.5 per cent.
The electric car revolution is with us and if not quite a tsunami of sales, more and more people and businesses are looking at them.
The temporary reduced rate of VAT for certain supplies of food, drink, and accommodation has been withdrawn, the Government has confirmed.
Businesses that have benefited from a cut in the VAT rate will see the temporary figure of five per cent rate increase at the end of September to 12.5 per cent.
The UK’s new independent tariff suspension scheme will help domestic manufacturing companies become “more competitive”, experts have said.
The temporary reduced rate of VAT will be extended until at least 30 September 2021, it has been announced.
The construction industry VAT reverse charge has come into effect today; here’s everything you need to know about the new anti-fraud accounting measure.
Construction businesses have just days left to prepare for the introduction of the new VAT reverse charge for building supplies, it has been warned.