Businesses urged to reclaim EU VAT before Brexit

Businesses that need to claim back VAT on expenses from working in the EU are being urged to do so before the planned date for Brexit. The Chartered Institute of Taxation (CIOT) is urging businesses to submit their claims for 2018 by 5pm on 29 March 2019, to avoid...

Pressure builds for MTD delay

Two leading professional bodies have joined the Lords Economic Affairs Committee in calling for the Government to delay the introduction of Making Tax Digital (MTD) for VAT by one year. The Chartered Institute of Taxation (CIOT) and the Association of Taxation...

Peers issue warning on MTD

The economic affairs committee of the House of Lords has called for a delay in the rollout of Making Tax Digital (MTD) for VAT-registered businesses, currently scheduled to take effect on 1 April 2019. Among other recommendations, it calls for MTD for VAT to be...

HMRC extends MTD for VAT pilot

More than half a million businesses are now able to test out digital tax reporting for VAT, after HMRC extended its Making Tax Digital (MTD) for VAT pilot scheme to sole traders and companies. From 1 April 2019, VAT-registered businesses with a taxable turnover of...