New VAT late payment and interest rules introduced
November 11, 2022
A new penalty and interest regime will be brought in from 1 January 2023 for late filing and late payment of VAT.
From 1 January 2023, a brand-new penalty and interest regime will be rolled out for late filing and late payment of VAT.
In a previous article we loo...
Points-based regime introduced for late VAT filing
November 1, 2022
From 1 January 2023, a new late filing and late payment penalty regime will be rolled out for VAT returns. In this article we will look at the late filing penalty regime and we will cover the late payment penalties in a separate article.
What’s changing and when?
The...
One of the first tax easements for businesses affected by the coronavirus pandemic was the option to defer VAT payments due between 20 March 2020 to 30 June 2020. The VAT was originally deferred until 31 March 2021, but a further deferral was announced giving businesses...
Making Tax Digital (MTD) for VAT has been with us for some time now but not all voluntary registered businesses currently file their returns under the new regime. While MTD for VAT will be mandatory for all VAT registered traders from 2022, changes in 2021 will affect VAT re...
Zero Rating of VAT on E-Books to be Fast Tracked
May 10, 2020
The promise to zero rate VAT on e-books and e-newspapers has been fast-tracked by the government in a bid to boost publishers hit by the coronavirus outbreak.In the spring budget the chancellor announced that E-publications (e-books, e-newspapers, e-magazines and academic e-...