HMRC is updating its penalties for businesses that submit VAT returns late or don’t pay their VAT bills on time. They’re also changing the way they charge interest on late VAT payments. The changes take effect from January 2023 and they do away with...
A ‘stealth tax’ announced by Jeremy Hunt will force an extra 60,000 small businesses to charge VAT on their goods and services. The revenue threshold at which companies have to start charging VAT is currently set at £85,000. This means that any businesses...
