NEWS

Making Tax Digital Update

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

Latest news...

15/03/2019

Spring Statement 2019

Chancellor Philip Hammond's second Spring Statement was delivered against a backdrop of political turmoil, following the voting down of Prime Minister Theresa May's Brexit withdrawal deal.

READ MORE

Newsletter Sign Up

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.



REF: MC/NL/1.1