The Government has announced a new VAT penalty regime which introduces changes to the penalty processes for both late VAT return submissions and late payments, to apply from 1 April 2022. Our blog article covers the changes coming into force under the new system.
From July 2021, the VAT rules on EU cross-border business-to-consumer (B2C) e-commerce activities will change. Here you can access the European Commission’s published guidance on the new rules.
On 3 March 2021 Chancellor Rishi Sunak delivered Budget 2021. Most of the Budget measures were targeted at addressing the fall out from the COVID-19 pandemic, including extending the VAT rate cut for the hospitality and tourism sectors.
The UK government’s VAT deferral new payment scheme for settling VAT payments deferred between 20 March and 30 June 2020 due to COVID-19 is now open for businesses to voluntarily opt-in.
In a bid to tackle fraud, the VAT domestic reverse charge for construction services is being introduced in March 2021. This will impose a significant administrative burden on businesses affected by the change.
11 February 2021| CATEGORIES: Uncategorised| TAGS:
Following the UK’s exit from the EU, new VAT rules apply to goods entering the UK in consignments valued at up to £135. The changes include: the abolition of low value consignment relief, which currently exempts consignments of goods up to £15 from import VAT; a new requirement for overseas sellers to charge UK VAT …
HMRC has updated its guidance explaining how to settle VAT payments deferred between 20 March and 30 June 2020 due to COVID-19.
The European Commission has published Explanatory Notes on the new EU VAT rules for e-commerce which come into effect on 1 July 2021. We look at what businesses need to do to prepare for the changes.
Following a resurgence in the number of COVID-19 cases in the UK, Rishi Sunak yesterday announced further VAT measures to support the economy in his Winter Economy Plan statement.
New postponed import VAT accounting rules for imports into the UK from both EU and non-EU countries come into effect on 1 January 2021. This will generate a cash flow benefit for UK VAT registered businesses that import. Find out more about how to benefit from this change.