by Hawsons | Oct 7, 2020 | Brexit, Tony Nickson, VAT
HMRC has published new guidance for VAT issues after the transition period ends. IMPORTS Postponed VAT accounting. Most businesses will use postponed VAT accounting for Imports (this will include goods from the EC which are currently called acquisitions)....
by Hawsons | Oct 6, 2020 | Tony Nickson, VAT
HMRC have recently issued new guidance on the subject of deposits, which will have an application to many businesses. A “deposit” is generally used to describe any payment received in advance of the making of a taxable supply. For example, a deposit is often made in...
by Hawsons | Jun 25, 2020 | COVID-19, Craig Walker, VAT
VAT deferment period closes on 30 June – Reinstate your direct debit! In March, the Chancellor announced that businesses could defer VAT payments due between 20 March and 30 June 2020 until 31 March 2021. This temporary change to the payment dates was...
by Hawsons | May 7, 2020 | Care Homes, Healthcare, Stephen Charles, VAT
The Government has decided to zero-rate VAT on essential personal protective equipment (PPE) during the COVID-19 pandemic. It comes after charities and trade unions called for VAT on PPE to be scrapped. The Government hopes that this will ease the financial pressure...
by Hawsons | Apr 2, 2020 | Craig Walker, Making Tax Digital, Tax, VAT
Delay of VAT Making Tax Digital ‘phase two’ The government has announced that, in light of the impact of Covid-19, the digital links requirement of Making Tax Digital for VAT will be deferred by 12 months to 1 April 2021. What is being delayed? The first...
by Hawsons | Mar 25, 2020 | COVID-19, Stephen Charles, Tony Nickson, VAT
VAT Deferral – Cancel your VAT direct debit! The Chancellor has announced that VAT payments can be deferred for the next 3 months. All VAT-registered UK businesses are eligible for the deferral. If your business normally pays VAT by direct debit, you will need...
