Martin Aitken & Co Ltd News & Developments

Martin Aitken & Co: news and comment

New VAT penalties regime on the horizon

The existing penalty regime for VAT returns has the advantage of simplicity, but it’s something of a blunt instrument.

The new system coming in for return periods beginning on or after 1st April 2022 will be fairer, but some businesses will find themselves caught up in a complex web of escalating penalties.

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BREXIT Planning for 1 January: make sure you are ready.

It certainly has been overshadowed this year, but yes Brexit negotiations are still ongoing and with only less than a month to go, what can we expect?

The UK Prime Minister, Boris Johnson, UK Chief negotiator David Frost and EU negotiator Michel Barnier continue to offer differing messages to the public about Brexit, some are positive, some ambivalent and occasionally negative remarks about the negotiations.

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MTD for VAT: Are you ready for 1 April 2019?

If you will be using the MTD system from 1 April 2019, you must use approved accounting software which will enable you to send regular updates to HMRC.

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