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  • Deferred VAT deadline

Deferred VAT

Deferred VAT Deadline Looms Businesses that deferred their VAT payments last year have less than a month left to join an online payment scheme.  Payments deferred from the early stages of the pandemic which remain outstanding need to be paid by the end of June in order to avoid penalties.  To benefit from further deferral,

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  • vat cut

A temporary reduction in VAT from 20% to 5% for worst hit sectors

Chancellor's Summer statement A temporary cut in the sales tax from 20% to 5% has been announced by the UK government for attractions, meals and accommodation.  Chancellor Rishi Sunak proposed the measure during his Summer Statement in order to provide relief for some of the sectors worst hit by the coronavirus pandemic. The VAT rate

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  • making tax digital calculator

Making Tax Digital for VAT

MTD has landed We first examined Making Tax Digital (MTD), and the arguments surrounding it, back in 2017.  Now that the dust has settled and MTD has come into force, it seems a good time for another look.   From VAT periods commencing 1st April, MTD now applies for most companies that have taxable turnover above

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