Category Archives: VAT

Overseas VAT claims delayed: Covid-19

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The tax authority has stated that VAT claims submitted under the Overseas Refund Scheme will be subject to delays. HMRC has admitted that changes to its working practices, as a result of the pandemic, have resulted in delays in processing and refunding VAT claims. The delays relate to payments due to overseas businesses that are not […]

Tax consultation deadlines extended: Covid-19

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HMRC and the Treasury have extended their tax policy consultation deadlines. They have set out revised timelines for tax policy consultation and other work in the light of the current Covid-19 crisis. Government has extended the deadlines in order to allow more time for feedback but has declared that all planned reforms will still go […]

Making Tax Digital for VAT

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HMRC has revealed guidance to check when a business must follow the rules for Making Tax Digital for VAT. HMRC has announced that due to coronavirus (COVID-19), the businesses can delay (defer) any VAT payments due between 20 March 2020 and 30 June 2020. If they choose to defer a VAT payment, they will have […]

VAT Payments Deferral: Coronavirus

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    HMRC has announced temporary changes to the VAT payments due between 20 March 2020 and 30 June 2020 to help businesses manage their cash flow. Businesses that have been affected by the COVID-19 pandemic and are seeking to make use of the VAT deferral have been urged to cancel their direct debits ‘as […]

VAT Registration: Key Points to Remember!

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  VAT registration for a business becomes mandatory if its vatable turnover crosses the VAT registration threshold which is, at the moment, £85,000.  Most of the businesses believe that the period which they should consider to calculate this turnover is their financial year. Meaning if the financial period of their business is July to June, […]