Businesses urged to reclaim EU VAT before Brexit

Feb 22, 2019 |

Businesses that need to claim back VAT on expenses from working in the EU are being urged to do so before the planned date for Brexit. The Chartered Institute of Taxation (CIOT) is urging businesses to submit their claims for 2018 by 5pm on 29 March 2019, to avoid...

Pressure builds for MTD delay

Feb 20, 2019 |

Two leading professional bodies have joined the Lords Economic Affairs Committee in calling for the Government to delay the introduction of Making Tax Digital (MTD) for VAT by one year. The Chartered Institute of Taxation (CIOT) and the Association of Taxation...

Peers issue warning on MTD

Nov 23, 2018 |

The economic affairs committee of the House of Lords has called for a delay in the rollout of Making Tax Digital (MTD) for VAT-registered businesses, currently scheduled to take effect on 1 April 2019. Among other recommendations, it calls for MTD for VAT to be...

HMRC extends MTD for VAT pilot

Oct 17, 2018 |

More than half a million businesses are now able to test out digital tax reporting for VAT, after HMRC extended its Making Tax Digital (MTD) for VAT pilot scheme to sole traders and companies. From 1 April 2019, VAT-registered businesses with a taxable turnover of...

HMRC approves 18 MTD software suppliers

Jul 16, 2018 |

HMRC has released a list of approved Making Tax Digital (MTD) software developers for VAT-registered businesses to use from next year. Businesses with annual taxable turnover of more than £85,000 will be required to maintain digital records for VAT and submit...