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Top VAT tips for the festive season
KEY POINTS
- HMRC’s reminder system ensures that the return date is not missed.
- Make life easy by using the calculator in the online return.
- Do not ignore the effect of weekends and bank holidays on VAT payment dates.
- The reverse charge applies to services from abroad not just from the EU.
- The Business Payment Support Service can help when there are temporary cash flow problems.
So here we are: another year is over and there is no doubt that it has been a busy and controversial one in the world of tax.
Perhaps not quite so controversial for VAT because we had our place at the top table last year after the fiasco of the 2012 Budget with the nonsense about pasty taxes caravans storage and other...
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