Businesses that trade in the UK and abide by the rules have found that their prices are being undercut by overseas business who have not registered for VAT when required to do so, this change in the law will help address this form of tax evasion. This will also help online shoppers to ...
These services won’t be accessible from on-premises deployments by June 6, 2025. By June 6, 2025, we plan to no longer support batch mode for submission of VAT return in the Making Tax Digital feature. It’s still possible to generate in batch the report (VAT 100) in Excel and...
help improve productivity Proposals expected to save businesses time and money and speed up payments, creating the conditions to grow the economy, part of the Prime Minister’s Plan for Change Will help businesses get tax right first time with fewer invoicing and VAT return errors UK stakeholders...
The business has not signed up for Making Tax Digital for VAT (MTD VAT) HMRC have not completed the sign up process, you will need to wait up to 72 hours for HMRC to confirm Agents: The agent has not created an Agent Services Account. This is different to HMRC online services for age...
HMRC have a process that must be followed to get MTD VAT submissions started. If the issue persists, you will need to contact HMRC's Online Services helpdesk on 0300 200 3701 and speak with their MTD VAT team to confirm the registration process. We cannot access HMRC systems to check what...
You might need to pay VAT on the purchase price. This can be included in the price or added if buying from an international seller. Selling NFTs Capital Gains Tax Selling an NFT is subject to Capital Gains Tax (CGT) on the profit made, be it against fiat or cryptocurrency....
Seller’s VAT identification number Full name and address of the buyer Time of supply (tax point) if it is different from the invoice date Description of the goods or services For each different item listed on the invoice, the following must be shown: Unit price (excluding VAT) Quantity Dis...
Boost for small businesses as VAT threshold raised and business rates froze... 12m Accountancy Age Boost for small businesses as VAT threshold raised... 28,000 small businesses freed from paying VAT, encouraging them to invest and grow as the threshold is raised from £85,000 to £90...
The service struggles to keep up with demand, resulting in major hold-ups for simple requests such as VAT numbers. ‘ACCA outlined its concerns regarding the state of HMRC services in our letters to the Chancellor for both the Spring Budget in March 2024 and the Autumn Statement in November ...
Description of the goods or services For each different item listed on the invoice, the following must be shown: Unit price (excluding VAT) Quantity Discounts Total amount payable (excluding VAT) VAT rate (If an item is exempt or zero-rated, make it clear that there is no VAT on these ...