Making Tax Digital (MTD) for VAT and the New Penalty System
As of 1 April 2022, all VAT registered businesses are required to maintain and submit their company accounts using software which is compliant with the Making Tax Digital (MTD) Scheme. Since the role out of MTD in 2019, it was only businesses that exceeded the VAT...Maxing Tax Digital (MTD) – April 2022 VAT Changes
For anyone whose business has been voluntarily registered for VAT, you will soon need to change how you file those returns and you will also need to take on digital record keeping for your VAT accounts. These changes are coming because Making Tax Digital for VAT will...VAT reverse charge for construction services
The new VAT reverse charges rules will apply to you if you are in the Construction Industry Scheme (CIS) and VAT registered, and it is likely to apply to supplies of construction work from 1 March 2021.