How do I repay the VAT I deferred because of COVID?
The option to defer VAT payments between 20 March and 30 June last year was welcomed by many businesses as it freed up much-needed cash for them during the lockdown. In order to take advantage of this scheme, businesses either didn’t make the payment or they cancelled their direct debit to prevent the payment being taken automatically. […]
What can I reduce VAT on? A breakdown for businesses in hospitality, accommodation and the tourism industry
Last week, Rishi Sunak announced a whole host of measures to help boost the economy as we start to recover from the effects of the last few months. One of these measures is a temporary 15% cut to the rate of the VAT applied to certain supplies made in the hospitality, accommodation and tourism industry, […]
Can you adjust your VAT processes to help cash flow during the coronavirus?
There are several existing schemes operated by HMRC that businesses may be able to take advantage of to help improve their cash flow during this difficult period.
Setting up your HMRC Business Tax Account
Every business should have access to an HMRC Business Tax Account whether the business operates as a sole trader, partnership or a limited company.
