01743 271071 [email protected]
Leaving the VAT Club

Leaving the VAT Club

In previous Blogs I have warned readers of the pending VAT change on 1st April 2022, when HMRC’s much heralded Making Tax Digital (MTD), will be extended to businesses that have voluntarily registered for VAT; even though their turnover does not exceed the compulsory...
Repayment Supplement Scheme Arrears

Repayment Supplement Scheme Arrears

All accountants are aware that if HMRC delays repaying a VAT return claim by more than 30 days, it is obliged under its Code of Practice, to pay a repayment supplement equal to 5% of the repayment amount or £50, whichever is greater. The only exception to this rule is...