HMRC late payment interest cut by 0.25%
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.
Start planning early to deal with the school fees VAT burden
The introduction of VAT on school fees in October’s Budget is one area where there is a good element of certainty, says Rob Geary, VAT specialist at Lovewell Blake.
HMRC launches VAT Registration Estimator
HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them.
Interest and partial exemption
Whilst the rise in bank interest is welcome news to some, for others it could have an unexpected VAT implication.
HMRC VAT applications only accepted online
From today (13 November), HMRC will no longer be accepting a paper VAT 1 form for VAT applications and will only be accepting online VAT applications.
Upper Tribunal decision on VAT rates for confectionery
WM Morrisons Supermarkets PLC (Morrisons), recently appealed the first-tier tribunal decision in relation to the VAT treatment of Nakd bars and Organix bars.
Making Tax Digital (MTD) – old VAT portal closes 1 November 2022
HMRC have announced that they are closing the existing VAT online portal at the end of October 2022.
Care Homes: Looking beyond the VAT rules
Most VAT registered businesses have at some point queried whether they can reclaim the VAT on an expense. If the expense is a personal or non-business expense, the answer is usually ‘no’. If the expense is directly linked to goods or services that are subject to VAT at 0% 5% or 20%, then the answer is usually ‘yes’.