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HMRC reminds businesses to prepare for MTD for VAT
Businesses should take steps to prepare for Making Tax Digital ("MTD") for VAT before it becomes mandatory for all VAT-registered...
Jan 13, 2022


MTD for VAT from April 2022
HMRC has started to write to VAT registered businesses with turnover below £85,000 to alert them to the need to comply with MTD for VAT...
Nov 25, 2021


Changes to late payment penalty regime for taxpayers
HMRC has clarified changes to the late payment penalty scheme which will start to come into force from April 2022. There are two late...
Aug 31, 2021


VAT liability of charging electric cars
HMRC has clarified the VAT treatment of the supply of electricity for electric cars in a recent brief, outlining when input tax can be...
Aug 6, 2021


Small businesses urged to act fast
An estimated 26,000 e-commerce sellers will face £180m in additional red tape costs, as the EU introduces new VAT rules on sales coming...
Jul 13, 2021


Deferred VAT deadlines on the horizon
Businesses that deferred VAT payments during the early stages of the pandemic which remain outstanding need to act by the end of June in...
Jun 9, 2021


Limited window for SME's to apply for Brexit support grant
Businesses qualifying for the grant under the Brexit Support Fund only have until 30 June 2021 to make a claim. You will be eligible to...
Apr 25, 2021


Budget updates - VAT
Extended VAT discount for hospitality The current 5% VAT rate for the hospitality sector, holiday providers and attractions will be...
Mar 16, 2021


UK introduces tougher penalties for late payment of income tax
A significantly tougher regime of penalties for late income tax payment was released in the Budget announcement on 3 March. Key Points...
Mar 11, 2021


New online service opens for VAT deferral payments
Over 500,000 VAT registered businesses who deferred VAT payments between March and June 2020 now have the opportunity to join the new...
Feb 25, 2021


UPDATE - Deferred VAT payment scheme
HMRC have announced that if you have deferred VAT, your payments due between 20 March and 30 June 2020 and still have payments to make,...
Feb 19, 2021


Proud to be selected....
In February 2021, Foxmain Associates was selected as one of the UK’s leading accountancy firms by Handpicked Accountants. With over...
Feb 18, 2021


HMRC COVID VAT deferral scheme
If you have deferred a VAT payment from April - June 2020, you can: • Pay the deferred VAT in full on or before 31 March 2021; • Opt in...
Jan 27, 2021


VAT Registration
Is your business turnover increasing? Do you need to consider registering for VAT? Have you considered which VAT registration? Flat rate?...
Jan 26, 2021
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