Businesses with more complex requirements will be given an extra six months to comply with Making Tax Digital for VAT, HMRC have announced. The six month deferral until 1 October 2019 applies to businesses which fall within one of the following categories:
- Trusts - ‘not for profit’ organisations that are not set up as a company - VAT divisions - VAT groups - Government departments - NHS trusts - Local authorities - Public corporations - Traders based overseas - Those required to make payments on account and annual accounting scheme users It is estimated around 3.5% of VAT-registered entities will be affected. HMRC has also released new and updated guidance to help businesses with the new requirements.
24/10/2018
View all >
15/06/2026
Small businesses to benefit from strengthened debt advice services
Small businesses and the self-employed struggling with their finances to receive a helping hand as debt advice services are strengthened, the Treasury has announced.
READ MORE
Hospitality sector calls for 10% VAT rate
Hospitality businesses, teams and organisations are being urged to sign a new petition calling for the government to cut the VAT rate for the sector to 10% by UKHospitality.
Threequarters of workers not on track for 'moderate' pension income
Threequarters of UK workers are not on course to save enough for a ‘moderate’ lifestyle when they retire, according to a report by Pensions UK.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.