EC VAT, Post Transition Period Guidance

EC VAT, Post Transition Period Guidance

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)....
VAT and Deposits – HMRC Updated Guidance

VAT and Deposits – HMRC Updated Guidance

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...