by Paul Whyatt | Apr 14, 2023 | News, Taxation, VAT
In addition to the new VAT late-filing penalties there is also a new system of penalties for late paid VAT. For VAT periods beginning on and after 1 January 2023, you will have up to 15 days to pay your VAT, or arrange a time to pay agreement, before HMRC charge a...
by Paul Whyatt | Apr 14, 2023 | News, Taxation, VAT
All VAT returns must now be submitted digitally using MTD compatible software (unless the business has an exemption) so the VAT penalties have been revised to fit with this new regime. If you submit a VAT return late for a period starting on or after 1 January 2023,...
by Paul Whyatt | Apr 1, 2022 | Business Advice, VAT
Contract termination fees can be a bitter pill to swallow when you just want out of an expensive agreement. What’s worse is that some suppliers will charge VAT on top of the cancellation fee, while others will not. The law has been a bit of a mess, but HMRC has...
