How to ensure your VAT clients provide happy returns

It’s a situation that’s far from ideal for most accountants – preparing a VAT return from a bag of receipts, or trying to reconcile a client’s bank account only to find dozens of transactions that have no matching paperwork. Chasing a client eats up precious time that could be spent on other work. And it […]

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Should HMRC block VAT registrations?

In administering any tax system, it is important that everyone gets equal treatment. This is especially so with an EU-wide tax like VAT, where a key underlying principle is that the tax must not lead to distortion of competition. So far so good. What is not good is what HMRC are doing on some applications […]

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The list goes on … HMRC’s VAT/MTD software suppliers

In July there were 18. In August there were 27.  In September there are 40. As that April 2019 deadline for Making Tax Digital for VAT starts to look just that little bit nearer, HMRC has updated its list of approved software suppliers. HMRC is working with more than 150 software suppliers that have said they’ll […]

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Making Tax Digital VAT: is it time to educate clients?

The summer has arrived (it’s started raining!). Government members have retreated to Tuscan villas. School children are enjoying the longest holiday of the year. Parents battle to juggle work and keep their little ones entertained. Amid the extraordinary political, social and economic events of the past few months, accountancy professionals are debating the next step […]

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Where next for MTD and the spreadsheet?

In most conversations about Making Tax Digital for Business, the word ‘spreadsheets’ is bound to crop up at some point or other. As in how will/can/do they fit into HMRC’s plans for the not too distant future? So it was interesting when I clicked on the PWC link in the UK tax authority’s latest 18-strong list […]

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Business urges government to simplify UK tax

Let’s simplify UK tax. That’s the simple message from business to the government. And who could disagree? A survey of 1,100 companies demonstrates a feeling that HMRC red tape is clogging up the wheels of industry. And three in four firms reckon the cost of complying with the tax system is soaring, according to British […]

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HMRC to crack down on VAT fraud by online traders?

HMRC has been told to strengthen its efforts to tackle VAT fraud by online traders. The Public Accounts Committee  says “too many” are not paying their “fair share” and that this is hitting UK business. PAC members have highlighted the issue of overseas competitors not charging VAT when selling in the UK through online trading platforms. […]

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Accountants expect clients will need more help with VAT

Welcome to Friday, and a bit of interesting MTD research. Accountants reckon they’ll provide VAT submission services for even more clients following next April’s VAT deadline. Software group IRIS has found that accountants do not believe their clients are willing to continue to spend time keeping their books up to date and would prefer their […]

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