Are you ready for MTD VAT in April 2022?
VATWith MTD for VAT becoming mandatory for all VAT registered businesses from April 2022 are you set up with the means to file your VAT returns directly from the software you use to record your accounts?
With MTD for VAT becoming mandatory for all VAT registered businesses from April 2022 are you set up with the means to file your VAT returns directly from the software you use to record your accounts?
Businesses need to register for VAT when they reach the VAT threshold but understanding when that is and what to take into account when calculating your trading income is a little more complex.
Several years ago a business was put in touch with me about their VAT situation because they had been told by their accountant that they did not need to be VAT registered.
It can be confusing to know what you can claim back VAT on when someone who does work for you recharges you for some of their costs. This article explains how to work out when you can recover VAT and when you are not able to.
Businesses which import goods for business use have been able to use Postponed VAT Accounting since January 2021. Postponed VAT Accounting enables you to both declare and recover VAT on the same VAT return instead of