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Online VAT portal to close in May

Apr 25, 2023 |

HMRC is reminding agents and taxpayers who file annual returns that the online portal for filing VAT returns is closing on 15 May. Existing transition arrangements will end on this date and any businesses still using the old system will be automatically signed up for...

Confusion over MTD software pricing

Mar 6, 2023 |

Businesses say complex pricing models are a main concern when choosing Making Tax Digital (MTD)- compatible software. The latest HMRC research into MTD software shows that businesses find checking and comparing costs "confusing", particularly for those looking for...

New VAT penalty regime starts from 1 January

Dec 12, 2022 |

HMRC is introducing a new VAT penalty regime from 1 January 2023, replacing the current default surcharge with a fixed rate, points based system for late VAT submissions and payments. The changes will affect businesses submitting VAT returns for accounting periods...

Old MTD for VAT portal to close

Oct 20, 2022 |

VAT-registered businesses have less than two weeks until HMRC closes its old Making Tax Digital (MTD) portal. From Tuesday 1 November, customers will no longer be able to access their existing VAT online account to submit their monthly or quarterly returns. Instead,...

MTD for VAT brings in extra £195m

Mar 15, 2022 |

Making Tax Digital for VAT brought in as much as £195 million tax revenue in the 2019/20 financial year, according to research from HMRC. Depending on the method HMRC used, estimated additional tax revenue totalled between £185m to £195m. On average, businesses below...