VAT Archives

Beware of mini umbrella companies

Umbrella companies employ temporary workers such as contractors on behalf of employment agencies or very large companies. The umbrella company will operate the payroll and makes money by taking a cut of the fees earned by the individual. An umbrella company should...

Important changes to non-MTD VAT filing from April 2021

On 7 April 2021, HMRC will be unplugging its “VAT XML” filing system for organisations that are voluntarily registered for VAT, but who are not yet signed up for Making Tax Digital (MTD).

Points and penalty system for making tax digital

HMRC has announced that they will use a new points based system to encourage taxpayers to submit MTD updates on time.

Corporation tax to rise to 25% in 2023

The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22.

Spring Budget 2021 – VAT

Find out more about the changes to VAT announced in the latest Budget.

Further VAT deferral

At the start of the COVID-19 outbreak, many business owners decided to defer their VAT liabilities which would ordinarily have been due for payment between 20 March and 30 June 2020. Originally the deferred VAT liabilities were due to be paid by 31 March 2021....