What the mini Budget means for you & what it should have included

VAT, Stamp Duty and the Job Retention Bonus – what the ‘mini Budget’ means for you In last week’s ‘mini Budget’ Chancellor Rishi Sunak unveiled further help to kick start the UK economy which included cuts to VAT and Stamp Duty. Here’s what the changes mean for you and what we think of them: VAT – The rate of VAT … Read More

Coronavirus – deferral of VAT payments

VAT deferral As part of the Government’s package of support for businesses, the Chancellor announced that VAT payments can be deferred for 3 months until 30 June 2020. This is open to all VAT registered businesses in the UK and is an automatic offer with no applications required to access this support. Businesses will have until the end of the 2020/21 … Read More

VAT reverse charge for construction services

VAT reverse charge for construction services From 1 October 2020, a domestic reverse charge will apply to construction services in the UK, in response to organised criminal attacks on the VAT system in the construction sector. The domestic reverse charge will apply to supplies taxable at the standard or reduced rates where payments are required to be reported via the … Read More

The VAT man’s on the warpath

If you’ve been late in filing your VAT return on one or more occasions, HMRC may soon be breathing down your neck. The Revenue has recently pledged to crackdown on ‘serial’ offenders by delving even further into their tax affairs. HMRC has given businesses until 28 Feb to get up to date with their VAT affairs and pay over any … Read More