The Government has announced that VAT will be payable on private school fees from 1 Jan 2025. We look at the tax point for private school fees, prepayments, the timeline and the Governments plans to engage with schools.
What do we know about the Government’s tax plans to date and what can we expect in the near future?
A summary of the Spring Statement 2022 and a round up of the significant measures announced in the two 2021 Budgets that may impact your finances.
The reform of the VAT penalty system, which brings consistency to late payment and interest penalties and replaces the default VAT surcharge with a points based system, has been delayed until January 2023.
Supplies made by the hospitality industry that have been subject to a 5% VAT rate since July 2020, will become liable to 12.5% VAT between 1 October 2021 and 31 March 2022.
A recap of HMRC’s proposals to reform the penalties for late submissions to a points based system.
The Chancellor has outlined his plans to protect the jobs and livelihoods of millions, as the country continues to try and manage the virus. Here is our summary.
On 21 July the government published its 10 year strategy for the tax system. This included its plans to extend the Making Tax Digital initiative.
The VAT domestic reverse charge has been delayed. Use the time to understand and prepare for it if you are a VAT registered individual or business in the construction industry.
From compliance to growth, our accounting firm in Derby has you covered. Call us to see how we can help.