VAT

VAT is a tax collected by HMRC. It is a value added tax and the amount you pay will depend on the type of business and sales.

Making Tax Digital VAT

The first phase of making tax digital VAT will come into force from April 2019. HMRC had delayed the date, but they are now working closely with software companies to achieve the new deadline. Making Tax Digital what does it mean for me? If your business has income over ¬£85,000 per year, you must register for VAT. All VAT registered businesses over the threshold must use…