More changes to the VAT option to tax

On 1 June 2008, a new version of VATA 94 Schedule 10, covering the option to tax, was introduced in order to bring more clarity and simplifcation to a set or provisions, which had been widely misunderstood and often abused.

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No new taxes and a moratorium on regulations, says BCC

The British Chambers of Commerce (BCC) has called on the government not to impose new business taxes and to reduce the burden of red tape in its Budget submission.

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Simplified de minimis VAT tests for partial exemption

With effect from VAT periods or VAT years starting on or after 1 April 2010, two new, optional de minimis tests will be introduced to save certain partly exempt businesses the need to carry out complicated and time-consuming calculations.

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Deregistering from VAT

Deregistration from VAT is usually a fairly straightforward process. However, there are some important aspects to bear in mind which, if misunderstood, could prove costly.

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VAT returns and payments are going online

Businesses need to be aware that significant changes to the way that VAT returns are filed and payments are made will be coming into effect very soon.

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New business regulations come into effect this April

Each year, the government introduces regulatory changes affecting businesses on two common commencement dates. These dates are 6 April and 1 October.

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VAT Return Date

Call for Budget to 'review' flat rate VAT

The government has been urged to look at the issue of flat rate VAT charges in the forthcoming Budget.

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