Making Tax Digital for VAT as a business or sole trader

From 1 April 2022 all VAT registered businesses must follow the new rules regardless of turnover. If you’re a VAT registered business with a taxable turnover above £85,000, you must follow the rules for Making Tax Digital for VAT unless: your business uses the VAT GIANT service – HMRC will contact you to tell you when the deadline Read more about Making Tax Digital for VAT as a business or sole trader[…]

VAT cuts on food, accommodation, eat in or hot takeaways, cinemas, zoos and theme parks

Other new measures announced Today the Chancellor announced VAT cuts on food, accommodation, eat in or hot takeaways, cinemas, zoos and theme parks. From 15‌‌‌ ‌July until 12‌‌‌ ‌January 2021, the UK government will cut VAT from 20% to 5% on any eat-in or hot takeaway food and drinks from restaurants, cafes and pubs, excluding Read more about VAT cuts on food, accommodation, eat in or hot takeaways, cinemas, zoos and theme parks[…]

New VAT rules for some vouchers

Who is this for? Business that issue vouchers to customers which they can exchange for goods or services and are VAT registered. When does it start? 1 January 2019 What’s happening? From 1 January 2019 vouchers will fall into tow categories: Single purpose Multi-purpose VAT will be triggered depending on what the voucher entitles your customer to: Single Read more about New VAT rules for some vouchers[…]

Main points from the budget (29 October 2018)

Here are some of the key points from the budget of 29 October 2018: Savings The ISA allowance is held at £20,000. The Junior ISAs annual allowance and Child Trust Funds for 2019/20 will be increased in line with CPI to £4,368. National Savings and Investments (NS&I) have announced the minimum investment for premium bonds Read more about Main points from the budget (29 October 2018)[…]