A faster way to recover VAT on goods imported to the UK. These changes will affect your business from 1 January 2021 if you import goods into the UK. Import VAT is now charged on all goods entering the UK (including goods from EU countries). Previously import VAT was charged on non-EU imports only. You… Continue reading Postponed VAT Accounting
During the COVID-19 pandemic, there has been a lot of information about the virus and its effects on mental health. Bereavement, isolation, loss of income and fear to name a few are triggering mental health conditions or aggravating existing ones. Many people may be facing increased levels of alcohol and drug use, insomnia, and anxiety.… Continue reading Covid-19 And Your Mental Wellbeing
HMRC has issued some guidance to taxpayers that deferred their VAT payments between 20 March and 30 June 2020 and still have payments to make. HMRC is advising taxpayers who deferred their VAT payments to: pay the deferred VAT in full on or before 31 March 2021or opt in to the VAT deferral new payment… Continue reading VAT deferral
The deadline for submitting your 2019/20 self assessment return is 31 January 2021. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities. … Continue reading Self assessment deadline approaching – 31st January 2021
Torr Waterfield - Accountants & Business Advisors 