VAT

Firms urged to sign up early for new online VAT rules

Businesses are being reminded that new regulations governing the filing of VAT returns and the payment of VAT liabilities are to come into effect next year.

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Simpler VAT system mooted

As part of its review of the small business tax regime, the Office of Tax Simplification (OTS) has put forward suggestions on the way that the VAT system can be streamlined and made easier to manage.

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Dropping VAT relief would not harm smaller traders, says business group

Closing a relief which allows larger firms to move off-shore in order to pay no VAT on items valued at £18 or less would benefit rather than hit smaller businesses, it has been claimed.

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Business record checks could be expensive for smaller firms

Plans by HM Revenue and Customs (HMRC) to scrutinise the record keeping of smaller firms could prove costly for many enterprises, it has been claimed.

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VAT rise hits consumer confidence

Consumer confidence plunged at its fastest rate in January on the back of the rise in VAT.

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Chancellor wants ideas for the Budget

The Chancellor, George Osborne has flagged up a new online portal, designed to elicit ideas from the public and from businesses for the forthcoming Budget.

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Small businesses coping with VAT increase

Small firms appear to have taken the recent hike in VAT in their stride.

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VAT loophole review could help smaller internet traders

The Treasury is to examine the running of a VAT tax relief which may be harming the competitiveness of smaller internet firms.

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Increase in Time to Pay rejections

There was an increase last year in the number of requests to defer business tax payments under the Time to Pay scheme that were refused by HM Revenue and Customs.

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