Tax body demands VAT simplification

The Association of Taxation Technicians (ATT) has called for the Government to use the UK's exit from the EU to review what it calls ‘overly complex' rules surrounding VAT on food and drink. In his debut Budget speech on 11 March, Chancellor Rishi Sunak announced that...

Most firms not benefitting from MTD for VAT

Making Tax Digital (MTD) has created additional, costly obligations for most VAT-registered businesses, according to a report. MTD for VAT kicked in on 1 April 2019 for UK businesses with an annual taxable turnover of more than £85,000. The government indicated that...

Reverse charge VAT for builders delayed

Reverse charge VAT for construction services has been delayed by a year, just three weeks before it was due to take effect. The way VAT is collected in the building and construction industry was due to change on 1 October 2019. Industry campaigners had expressed...

MTD and Brexit cause HMRC helpline delays

Business owners calling HMRC's VAT helpline for assistance have experienced increasing delays in the first part of this year, with Brexit and Making Tax Digital (MTD) putting pressure on resources. Correspondence from HMRC to the Treasury select committee shows...

Early MTD sign-ups could result in penalties

Businesses that signed up to Making Tax Digital (MTD) before they were ready to meet the requirements could risk incurring penalties, the Association of Taxation Technicians (ATT) has warned. MTD for VAT came into force on 1 April 2019, requiring VAT-registered...