Plans to increase the frequency of reporting by the self-employed and small businesses, under the Governments Making Tax Digital (MTD) scheme, have been delayed. The next phase of roll out for MTD would have seen self-employed and small business required to maintain digital records and report their income to HMRC every quarter from April 2023. […]
Whilst there no longer appears to be anything that is truly unusual in the current climate, the Chancellor took the unusual decision to cancel November’s planned budget statement and delivered a Winter Economy Plan in its place. This move once again underlines the lack of long-term certainty that the Covid pandemic is enforcing on the […]
***UPDATE*** The Government has delayed implementation of reverse charge VAT for construction until October 2020 Original article: Companies in the construction sector need to be aware of changes which are being introduced on 1st October 2019. These changes will affect any VAT-registered construction business that: Buys in construction services from other builders and makes an […]
For around 12 months now there has been much discussion about a review of the point at which companies must register for VAT, the VAT Threshold. Currently set at £85,000 of taxable turnover, the Chancellor was reported as planning a reduction of this figure to around £20,000 as part of his budget statement in November […]