The Office of Tax Simplification (OTS) has outlined a range of measures intended to help simplify the UK tax system. The OTS stated that the UK tax has become ‘highly complex’, and has ‘not kept pace with changes in society’. As such, in its report, the OTS has recommended 23 measures intended to simplify VAT....
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HMRC has reduced VAT rates for hospitality and the flat rate scheme. VAT flat rates have been reduced for catering, accommodation and pubs in light of the government’s temporary VAT reduction. As a consequence of the temporary reduction in the VAT rate from 20% to 5% in the hospitality sector, the flat rate percentages used...
UK chancellor Rishi Sunak has announced new measures “plan for jobs” including bonuses for employers, VAT and stamp duty cuts, home improvement vouchers and eating-out discounts. The finance minister made his summer statement or ‘mini-budget’ in parliament on Wednesday. Today the Chancellor announced the introduction of the Job Retention Bonus. This is a one-off payment...
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...
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...
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...
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 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,...
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Leeds: 94 Street Lane, Leeds
Batley: 504B Bradford Road, WF17 5JY
Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
Batley: 504B Bradford Road, WF17 5JY
Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
OUR LOCATIONSWhere to find us
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