Business and Finance

How to submit a deferred VAT payment

On 20 March 2020, the Government announced that VAT payments could be deferred between that date and 30 June 2020, as part of measures to support businesses through the coronavirus pandemic. This deferment option was available to all VAT-registered businesses in the UK and was automatic, meaning it was not necessary to apply to HMRC. …

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Maxing Tax Digital – Who will pay?

The Economic Affairs Committee has warned the HMRC that small businesses in the UK ‘could pay a heavy price’ for Making Tax Digital for VAT (MTD for VAT). What is MTD for VAT? If you haven’t heard of it, you need to get up to speed quickly because as the ICAEW website reports: From April 2019,…

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