From April 2022, all VAT registered businesses will need to comply with Making Tax Digital irrespective of their annual turnover. This will be a significant change for very small businesses who currently prepare their accounts and taxes manually, as the digital links requirement will apply to these businesses also. Digital links: What does it mean […]
Brace for Brexit 2: Postponed accounting
The law will change for VAT on imported goods from 1 January 2021, but to help businesses postponed accounting will be introduced on the same date. How it works Postponed accounting will be introduced on 1 January 2021. This will mean that a VAT registered business will not pay VAT on imported goods when they […]