From Tuesday 1 November 2022, VAT registered businesses will no longer be able to use their existing VAT online accounts to file VAT returns.
By law, VAT registered businesses must now sign up to Making Tax Digital (MTD) and use MTD-Compatible software to keep VAT records & file VAT returns.
Please note businesses that file annual VAT returns will still be able to use their VAT online account until 15 May 2023.
For more information please follow the link.
If you receive tips on ‘more than an occasional’ basis, there is new legislation which is effective from October 2024, that you need to be aware of. By more than occasional, HMRC seem to deem a few tips a year as occasional and so if your business receives tips more than this, you need to […]
Hopefully you are already aware that HMRC have introduced legislation that requires certain individuals to keep and submit electronic records on a quarterly basis, for their business / rental income. MTD comes in to force from 6 April 2026 if your turnover / rental income or both added together exceed £50,000 and from 6 April […]
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