End of the MTD transition period in the UK as from April 2021

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 […]