Issuing a VAT invoice without registration or authorisation can lead to HMRC penalties, even if it is done by mistake.
A penalty may be charged by HMRC when an individual or business issues an unauthorised VAT invoice
Not all goods and services carry a 20% VAT, knowing the right rate can save costly mistakes.
When a VAT-registered business issues an invoice to their customer, they must ensure that they charge the correct rate of VAT.
New rules mean late VAT filings and payments now trigger points, fines and interest charges.
The VAT late filing penalties regime changed for accounting periods beginning on or after 1 January 2023. Under the new
HMRC requires businesses to maintain accurate VAT records to ensure correct tax payments. While all businesses must retain general records (such as invoices, bank statements, and receipts), a key requirement under the
VAT relief is available on goods and services for people with long-term illnesses or disabilities.
There are special VAT reliefs available for certain people living with disabilities or long-term illnesses. These
Struggling with late-paying customers? The VAT Cash Accounting Scheme helps protect cash flow by taxing only what you have received.
The VAT Cash Accounting Scheme is designed to support businesses by improving cash