VAT changes
The VAT registration threshold has already been frozen at £85,000 since April 2017 and it will now be fixed at that level until April 2026.
VAT portal to close
All VAT registered businesses are now required to file VAT returns using MTD-compatible software and keep VAT records in a digital format. This applies from the start of the first VAT period for newly registered businesses.
Five key takeaways from the Spring Statement
The 2022 Spring Statement was delivered on Wednesday 23 March. Here are five key takeaways from the Chancellor’s speech at Westminster.
All VAT registered Farm Businesses Must Adopt MTD for April
All VAT registered farm businesses must adopt the government’s Making Tax Digital (MTD) for VAT agenda from April this year, regardless of annual turnover.
Spring Statement 2022
Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022. In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the impact of rising prices...
Car or van – what’s the difference for businesses?
In day-to-day life, few of us would struggle to tell the difference between a car and a van. But as is often the case, things aren’t so straightforward in the world of tax.