HMRC writing to businesses about MTD for VAT
HMRC has begun a letter writing campaign to remind businesses that the way they keep VAT records and submit their VAT returns is changing. The letters are being sent to businesses
VAT relief on building a new home
The VAT DIY Housebuilders scheme is a special scheme, enabling homeowners building a home to benefit from the special VAT rules that allow the qualifying construction costs of new
VAT reverse charge construction industry
A change to the VAT rules first announced at Budget 2018 will come into effect from 1 October 2019. This change will make the supply of construction services between construction
Autumn Budget 2018 – VAT registration and deregistration thresholds
The Chancellor confirmed in his Budget speech that the taxable turnover threshold that determines whether businesses should be registered for VAT, will be frozen at £85,000 for a
MTD for VAT pilot extended
The introduction of Making Tax Digital (MTD) for VAT is fast approaching. From April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000)
VAT – option to tax
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means
Alert for VAT registered traders
The deadline for businesses with a turnover above the VAT threshold to keep digital records and provide regular digital updates to HMRC for VAT purposes using Making Tax Digital
Take care when making VAT reclaims
The Court of Appeal recently heard a taxpayer’s appeal against a decision of the Upper Tribunal to recover an amount of overpaid VAT. The claim related to historic VAT claims
VAT on transfer of business as a going concern
The transfer of a business as a going concern (TOGC) rules consider the VAT liability on the sale of a business. Normally, the sale of the assets of a VAT registered or VAT
VAT – goods on sale or return
There are special VAT rules that must be followed when you sell goods on a sale or return basis. Goods sold on a sale or return basis (sometimes known as ‘on approval’) are goods