All businesses compulsorily registered for VAT will have to comply with Making Tax Digital from April 2019. What are the key things to have in place to get your record keeping right?
Published 04.12.2018
You are reviewing your records in anticipation of a VAT record check. You find a sales invoice from 2016 that was incorrectly zero-rated, meaning £15,000 has been underpaid. How can you correct this
without a loss of profit to the business?
Published 04.12.2018
If you have to retrospectively change your VAT records, it might mean an “error correction”. However, some changes aren’t errors. How do you put things right, and which amendments are errors and
which aren’t?
Published 03.05.2018
Most VAT-registered businesses have to keep digital records. HMRC has announced a relaxation of certain requirements, including petty cash. However, there are monetary limits, so how can you take
advantage?
Published 02.07.2019
HMRC has launched a new digital form so that a business can easily disclose errors made on previous returns. What does this mean for your business?
Published 27.10.2022
One of our subscribers is a retailer of sports equipment and issues gift vouchers that can be redeemed for goods in the following twelve months. Our subscriber only accounts for VAT when the voucher
is redeemed. Is this a VAT error?
Published 27.01.2022
You’ve discovered that your business has overclaimed input tax on your returns for the last five years. How should you deal with these underpayments and how will HMRC’s new online form help you to
make an accurate submission?
Published 27.02.2023
Despite your best efforts mistakes in VAT returns are almost bound to happen from time to time, especially where a large number of transactions are involved. How should you correct them and what are
the consequences of doing so?
Published 01.06.2016
All VAT-registered businesses will need to comply with Making Tax Digital for VAT (MTDfV) from 1 April 2022. You are registered voluntarily but are considering deregistering ahead of that
date. What do you need to watch for?
Published 01.10.2020
HMRC is concerned that many businesses receiving payments from customers are making errors when there is a fee deduction for payment processor services. What is the correct approach and what should
you do if you have made past errors?
Published 29.01.2024