From 1st January 2021 the way we complete the VAT Return in the UK changed. The most important change was how we account for VAT when it comes to Great Britain (GB) trading with the European Union (EU).
Category Archives: VAT
The requirement to keep digital links if you are already caught under Making Tax Digital (MTD) rules came into force from 1st April 2021 as part of the second phase. HMRC defines a digital link as transfer of data between software programmes or applications.
HMRC have announced a VAT domestic reverse charge will need to be applied on supplies to building and construction companies of services that are within the scope of the Construction Industry Scheme (CIS).
If you own a business, or you are self-employed and you pay income tax, national insurance, VAT or corporation tax, then it is quite likely you will be affected.
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