From 1 March 2021 the introduction of the Domestic Reverse Charge VAT legislation has significantly changed the way in which VAT is accounted for in the construction industry. In this article we aim to clear up any confusion and help you gain a clearer understanding...
There is little about tax that is intuitive and modern, including the date our tax year starts – 6 April. We have our ancestors to thank for that. Our tax year dates originate from when people in England were required to pay rent to their landlords quarterly on...
We have already covered the topic of VAT in our complete VAT guide as well as VAT registration & deregistration thresholds. However, there are some special VAT schemes that apply to certain business industries and include different rules of accounting for VAT....
On the 1st of January 2021, the UK officially became independent from the European Union and all the new post-Brexit measures came into effect. Brexit has brought certain changes that impact citizens as well as the way companies do business with the EU. One of those...
If you’re unsure whether you should be registered for VAT we’ve put together this handy guide to help you. What is VAT? VAT stands for Value Added Tax. it’s a Government tax that’s added to certain goods and services that are produced within EU member...
Thresholds from January 2021 Registration threshold £85,000 Registration for distance selling into Northern Ireland £70,000 Registration for bringing goods into Northern Ireland from the EU £85,000 De-registration threshold £83,000 Registration threshold VAT...
