28 February 2022
HMRC suggests VAT-registered firms sign up for Making Tax Digital for VAT prior to 1 April 2022. Firms are asked to take steps to prepare for Making Tax Digital for VAT before it is declared compulsory for all VAT-registered firms from 1 April 2022. Making Tax Digital is designed to assist…
31 January 2022
Did you know you need to take an additional step when preparing a CIS payment and deduction statement? On the EPS, there is an extra field for CIS deductions, and companies must enter the COTAX reference number or CT UTR (Corporation Tax Unique Taxpayer Reference) to make claims for CIS…
The tax agents have been asked by HMRC to make their clients recall that tax has to be paid even for COVID–19 support grants or payments and declaration should be made on their company tax returns. These support grants or payments should be considered and noted as income while evaluating…
12 December 2021
HMRC has now allowed manual window blinds and shutters by updating its guidance on the DIY housebuilder’s scheme that will be eligible for a VAT refund. They have confirmed that the policy will be applied from 5 October 2020. This amendment allows such items that fit the description of ‘building…
10 December 2021
HMRC, in its latest Revenue and Customs Brief (13 of 2021) has amended its policy on the VAT treatment of the construction self-supply charge and what it considers disposal of an ‘entire interest’. If the buildings are used for a relevant residential, charitable purpose or care home then zero-rating of…
