VAT News

The VAT Consultancy offered at Hawsons by our VAT specialist
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)....

Tax Rates 2020/21

Tax Rates 2020/21

Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...

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...

Budget 2020 Summary

Budget 2020 Summary

Budget 2020 The Chancellor Rishi Sunak presented his first Budget on Wednesday 11 March 2020. In his speech he stated 'we are at the beginning of a new era in this country. We have the freedom and the resources to decide our own future'. 'It is a Budget of a...

Budget 2020: Predictions

Budget 2020: Predictions

Budget 2020: Predictions Rishi Sunak will deliver the 2020 Budget on Wednesday 11 March.  But what can we expect when the Chancellor opens his red box? Craig Walker, a tax specialist at Hawsons, gazes into his crystal ball: With a substantial majority, the government...