Points mean penalties under new VAT regime

Points mean penalties under new VAT regime

New penalties for late VAT returns and payments have come into force and will impact on VAT-registered farming businesses.   Under the new regime, which saw a soft launch in January 2023, businesses accumulate penalty points for late VAT returns, as well as penalties...
VAT on energy saving materials 

VAT on energy saving materials 

The zero rate of VAT has been extended to include the installation of additional energy-saving materials (ESMs) from 1 February 2024. 

VAT registration threshold raised

VAT registration threshold raised

Effective from 1 April 2024, the taxable turnover above which a business is required to register and account for VAT will be increased from £85,000 to £90,000.

VAT on work in pharmacies

VAT on work in pharmacies

From 1 May 2023 medical services can be VAT exempt if they are performed by a person who is not a registered health professional but who is directly supervised by a pharmacist.