VAT

HMRC announces 'light touch' approach to VAT rate change

HM Revenue and Customs (HMRC) has said that it will apply a ‘light touch’ if businesses make mistakes on their returns following the forthcoming change in the standard rate of VAT.

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VAT Return Date

Start-again firms 'facing' VAT bills

Businesses that start up gain after they have collapsed are, in some cases, being met with demands for significant up-front VAT payments, it has been claimed.

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UK missing out on VAT revenue

The UK suffers the largest shortfall in VAT revenues of any country in the EU, it has been revealed.

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Intrastat VAT Date VAT Return Date

Businesses may get extra time for VAT repricing

The government is considering whether to allow businesses more time to update price labels in shops once the rate of VAT reverts to 17.5 per cent at the end of the year.

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Income tax requires '7p hike'

To tackle the UK’s massive public debt, the basic rate of income tax should be raised by 7p in the pound, a leading think tank has said.

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Tax changes would help support economic recovery

The Chancellor has been urged ahead of his pre-Budget Report to introduce changes to the tax system as a way of helping to stimulate economic growth.

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