VAT: building and construction
A major change in the way that VAT is accounted for in the building and construction sector takes effect later this year.
A major change in the way that VAT is accounted for in the building and construction sector takes effect later this year.
As Making Tax Digital for VAT (MTD) rolls out, it is important that businesses are aware of changes to VAT Notice 700/22 Making Tax Digital for VAT.
The new reverse charge for building and construction services comes into effect on 1 October 2019.
Making Tax Digital for VAT (MTDfV), the new regime for VAT record keeping and VAT return submission, is now live. All businesses with taxable turnover over the £85,000 VAT registration limit come within the new rules.
The Pensions Act 2008 brought the requirement for employers to enrol particular qualifying employees in a workplace pension scheme, and to make scheme contributions.
Getting tax relief on a claim for capital allowances is not always plain sailing. This was recently highlighted at the tax tribunal, where a taxpayer faced the possibility of forfeiting tax relief on 80% of his expenditure.