A roof replacement company has been hit with a £2.5 million tax bill after a ruling that the insulated roof panels it supplied did not qualify for a VAT-reduced rating.
Category: VAT
The VAT filing deadline is approaching: How to get prepared
It’s important to stay up to date with the latest regulations and requirements related to taxes, including Value Added Tax (VAT) to avoid penalties.
How can you deal with VAT return errors?
If you are running a business, handling VAT returns can be complex.
You may have submitted returns with errors previously if you were unsure of what to do and could be at risk of further investigation or fines from HM Revenue & Customs (HMRC).
New VAT penalty regime – What do you need to know?
HMRC is launching a new penalty regime where VAT returns are submitted late or VAT is not paid on time.
Flat Rate Scheme: What do you need to know?
When running a business, ensuring you get VAT right is vital. So, how can you make things easier?
HMRC’s online VAT return set to close on 1 November
From 1 November, businesses will need to use Making Tax Digital (MTD) compatible software to file their VAT returns. However, the online return is still going to be available to those with digital exclusion exemptions.