VAT

What is the VAT Reverse Charge?

2024-10-07T09:24:23+00:00Categories: VAT|

Navigating the labyrinth of VAT regulations can feel like herding cats, especially when it comes to the VAT Reverse Charge. This quirky mechanism flips the script on how VAT is typically collected and can leave many scratching their heads. But fear not! We’re diving into the nitty-gritty of the VAT [...]

HMRC VAT Late Payment Interest

2024-08-12T11:38:40+00:00Categories: VAT|

Value Added Tax (VAT) is a critical component of the UK tax system, applied to most goods and services. For businesses, it’s not just about collecting VAT from customers but also about ensuring timely remittance to HMRC. Failing to do so can lead to significant financial repercussions, including VAT late [...]

VAT Threshold Increase from £85,000 to £90,000: A Guide for Small Business Owners

2024-08-26T08:51:23+00:00Categories: VAT|

The UK government has announced a significant change in the threshold for VAT registration, The VAT Threshold Increase from £85,000 to £90,000, effective from 1st April 2024. This adjustment has substantial implications for small business owners. In this comprehensive article, we will explore what this change means, how it impacts [...]