Sweeping VAT reforms in the EU will affect the UK’s online retailers, families hit with big bills after believing gifts would not be taxed and OTS considers bringing the end of the tax year forward.
The deadline approaches for SME Brexit support grant, employers are reminded to issue childcare vouchers and HMRC seeks to remove VAT repayment supplement.
HMRC brings in four new measures affecting the construction industry scheme cracking down on tackling abuse of the scheme, VAT-Registered firms start using digital links under MTD and workplace pension contributions bounce back after slump.
The Treasury has frozen the UK’s VAT thresholds for a further two years in a bid to start repairing public finances following COVID-19, the year-long business rates holiday in England has been
extended for another three months and new recovery loan scheme replaces previous Covid-19 loans.
Businesses that deferred paying VAT between 20 March 2020 and 30 June 2020 do not need to pay the full amounts by the end of this month and record number miss Self-Assessment filing deadline due to Covid-19.