Managing VAT can seem a bit scary, but keeping accurate records doesn’t have to be the stuff of nightmares. Whether you’re new to VAT registration or just looking to make your process a bit more streamlined, we’ve put together this guide to help. We’ll walk you through everything you need to know about keeping records…
Making Tax Digital (MTD) for VAT is in full swing, and HMRC will soon launch a new system for issuing VAT submission and payment penalties. The new points-based penalty system for Making Tax Digital for VAT will apply from January 2023. You can still be fined under the existing rules until then! Will I be…
Value Added Tax (VAT) can seem daunting, but once you get the hang of the process it becomes much more manageable. Whether you’re a seasoned business owner or a newbie to the world of commerce, understanding how to make a VAT submission is really important. Let’s take a look at how you can handle VAT…
Why has the government introduced Making Tax Digital for VAT? HMRC have issued VAT notice 700 / 22 (Making Tax Digital for VAT) so that accountants and businesses will be able to efficiently file and preserve records digitally going forward. The modernised process, will comply with the legal requirement of submitting VAT records using software,…
