VAT Deferral New Payment Scheme goes live

VAT Deferral New Payment Scheme goes live

HM Revenue & Customs (HMRC) has announced that its online VAT Deferral New Payment Scheme is now open for applications to help businesses arrange smaller monthly repayments of deferred VAT. Under the New Payment Scheme, you can repay VAT deferred between 20 March...
The VAT Deferral New Payment Scheme

The VAT Deferral New Payment Scheme

Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax. They can choose from the following options in order to do this: Pay the deferred VAT in...
Online sales tax proposal for Autumn Budget

Online sales tax proposal for Autumn Budget

The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage. Supermarkets, including Asda,...
EU exports halt as UK firms encounter extra charges

EU exports halt as UK firms encounter extra charges

Due to the new trade rules that came into effect on 1 January 2021, many UK businesses, who export to the EU, have been hit by extra charges, taxes and paperwork. Some have stopped exports to the EU as a result. One business forced to stop its exports altogether is an...