by | Sep 18, 2025 | Value Added Tax
Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake. A penalty may be charged by HMRC when an individual or business issues an unauthorised VAT invoice showing or including VAT without being allowed to...
by | Sep 11, 2025 | Value Added Tax
Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes. When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the correct rate of VAT. Whilst most businesses in the UK charge VAT at...
by | Sep 4, 2025 | Value Added Tax
New rules mean late VAT filings and payments now trigger points, fines and interest charges. The VAT late filing penalties regime changed for accounting periods beginning on or after 1 January 2023. Under the new system, there are now distinct and separate penalties...
by | Aug 14, 2025 | Value Added Tax
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key requirement under the Making Tax Digital for VAT initiative is keeping...
by | Jul 24, 2025 | Value Added Tax
VAT relief is available on goods and services for people with long-term illnesses or disabilities. There are special VAT reliefs available for certain people living with disabilities or long-term illnesses. These reliefs are generally available on certain...
by | Jun 26, 2025 | Value Added Tax
Struggling with late-paying customers? The VAT Cash Accounting Scheme helps protect cash flow by taxing only what you have received. The VAT Cash Accounting Scheme is designed to support businesses by improving cash flow. Using this scheme means that VAT is only paid...
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