UK Businesses need to be aware that significant changes to the way that UK VAT returns are filed and payments are made will be coming into effect very soon.
As from 1 April 2010, businesses that have an annual turnover exclusive of UK VAT of over £100,000 and businesses that register for UK VAT on or after 1 April will need to submit their VAT returns and make any due payments electronically. (more…)
Tags: HMRC, Regulations, UK VAT
Posted in Australia, Canada, France, New Zealand, Twitter, UK accounting, USA | Comments Off
The government should drop plans to raise national insurance contributions and instead should increase the rate of VAT to 18.5 per cent, the British Chambers of Commerce (BCC) has argued.
The call from the BCC to switch the onus on tax rises from businesses to consumers came on the back of the group’s latest monthly survey of its members.
Tags: BCC (British Chambers of Commerce), National Insurance Contributions, UK Inward Investment, UK VAT
Posted in UK accounting | Comments Off
There are a number of new penalty regimes coming into force, and for business owners and private taxpayers alike the new message from the tax authority is, ‘Take care to avoid a penalty.’ While penalties for inaccurate returns started in 2009, the regime is extended in 2010 to all taxes and duties, and some other tax obligations such as registration for VAT. (more…)
Tags: HMRC, tax relief, UK Corporation Tax, UK VAT
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More tinkering with the economy = Another missed opportunity
One simple measure could have been taken to reinforce the elements of cost control and economy – like actually raising the VAT rate to 20% (rather than just back to 17.5%). (more…)
Tags: Gordon Brown, Income tax allowances, Inheritance Tax, Kevin Beare, National Insurance Contributions, national minimum wage, tax credits, tax relief, UK Corporation Tax, UK VAT
Posted in A Personal View, UK accounting | Comments Off
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