HMRC has launched a quick digital tool, so businesses can estimate how registering for VAT might affect them.
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Have you increased the value of your goods, supplies or labour, to maintain your profit margins? If so, and you are not already registered for VAT, you will need to keep a close eye on your turnover. You might go over the VAT threshold without realising it.
For a round-up of what the Spring Budget contained and how this might affect you, please read our summary of some of the major changes.
If not, but you are voluntarily registered for VAT because your annual turnover is below £85,000, you will need to sign up for MTD
Currently, VAT registered businesses with a taxable turnover of more than £85,000 must follow the rules for ‘Making Tax Digital for VAT’ (MTD) by
The rules for deciding whether a gift given in the course of business is deductible are complex. The rules for business gifts generally follow
For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that businesses must consider where
It is well over a month since the implementation of a full border between the UK and the EU. Because of the pandemic, trade
