Want to join the making tax digital vat plot?

HMRC have announced that they are looking for suitable businesses to sign up for the pilot testing of the new system of digital reporting of VAT information. Turkeys voting for Christmas springs to mind? After a period of testing the new system is scheduled to go live...

Does Your Accounts System Comply with MTD for VAT?

Making Tax Digital (MTD) for VAT is scheduled to start in April 2019 which means that your VAT information needs to be submitted to HMRC digitally. On 18 December 2017, HMRC published draft legislation together with examples of how the business account records might...

VAT Registration Limit Frozen

The VAT registration limit normally increases in line with inflation each year, however, the limit has been frozen at £85,000 until 1 April 2020. At the same time the deregistration limit remains at £83,000. There had been rumours that the VAT threshold would be...

Reporting VAT Online – Aren’t We Doing That Already?

Last month we reported that the government had announced the delay of Making Tax Digital for Business (MTDfB) to 2020 at the earliest but that quarterly VAT reporting, using the new system will be mandatory from 2019. Surely we are doing that already you might say....

One Business or Two for VAT?

A recent VAT Tribunal had to decide whether two hairdressing businesses should be treated as a single business for the purposes of VAT registration. The distinction was critical as the two separate businesses were operating below the registration limit (currently...