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ACCA on Bad debt relief and VAT claims

A 60 second guide to VAT return adjustments on bad debt.   Debts outstanding for more than six months after the later of the date when the payment was due and payable or the date of supply require adjustment in VAT returns of both the supplier and the customer....

ACCA on Covid-19 and impact on VAT

Deferrals, PPE and more in this handy summary. VAT deferral VAT registered business can defer VAT payments that are due from 20 March 2020 to 30 June 2020. The measure applies to payment deadlines for the following VAT quarters: 29 February 2020: normal payment...

Budget VAT changes round up

Digital publications will also become zero-rated, while the agricultural flat rate scheme entry and exit rules are amended.  The VAT registration rates are unchanged, with few announcements. The main business changes concern:  Sanitary products VAT is currently...