Top tips to ensure your business is prepared for Brexit

The UK is currently scheduled to leave the European Union (EU) on 31 October 2019. However, it is still unclear whether that will be with or without a deal.

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Our Top VAT Tips

Whether you are a seasoned pro or a tax ‘newbie’, VAT can cause headaches for business owners. From VAT schemes and registration to Making Tax Digital and exempted goods and services, VAT can cause even the most experienced entrepreneur to

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120,000 businesses failed to meet the Making Tax Digital deadline

HM Revenue and Customs (HMRC) has revealed that 1.1 million businesses have now signed up for Making Tax Digital (MTD) and so far, 1.2 million VAT returns have been successfully submitted through the service.

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Making Tax Digital: what happens next?

Making Tax Digital (MTD) for VAT was launched in April 2019, which means that hundreds of thousands of businesses are now recording and reporting their accounts digitally to HM Revenue & Customs (HMRC).

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What happens if I don’t understand VAT?

What your business needs to know about VAT…

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Government delays domestic VAT reverse charge until October 2020

The Government has announced that it will delay the implementation of the domestic VAT reverse charge for building and construction services by a year.

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Government to allocate trading numbers to more than 88,000 UK firms ahead of Brexit

Ahead of a potential no-deal Brexit, the Government has announced that it will start automatically enrolling UK firms in the customs system.

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CIOT urges HMRC to delay VAT reverse charge for the construction industry

The Chartered Institute of Taxation (CIOT) is urging HM Revenue & Customs (HMRC) to delay the introduction of the VAT reverse charge for the construction industry.

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Thousands of businesses struggling to get to grips with MTD

According to the latest industry research, thousands of businesses are struggling to get to grips with Making Tax Digital (MTD).

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Half of all SMEs make VAT return mistakes

Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research.

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New rules to crack down on ‘phoenix companies’ confirmed for April 2020

Company directors who attempt to “sidestep” their tax liabilities by forcing their company into insolvency will face tougher penalties from next year.

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VAT Reverse Charge for building and construction services – What you need to know

In an attempt to tackle fraud in the construction industry, HM Revenue & Customs (HMRC) is be introducing a domestic reverse charge which will take effect from October 2019.

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HMRC publishes Making Tax Digital ‘Mythbusters’ helpsheet

HM Revenue & Customs (HMRC) has published a Making Tax Digital (MTD) ‘Mythbusters’ helpsheet to clarify the current situation regarding businesses and MTD.

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UK ‘tax gap’ at record low, figures reveal

The tax gap – the difference between the amount of tax that should be paid and what is actually paid – has shrunk to just 5.6 per cent.

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Making tax digital is live today, yet one million businesses are not registered

As of today, UK based businesses that have a taxable turnover above the VAT threshold of £85,000 will be required to switch to the new digital tax service to report earnings and calculate VAT owed.

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