HMRC is urging VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. In a letter sent to 145,000 affected businesses, HMRC explains changes to Customs, Excise and VAT procedures in the ‘unlikely event’ that the UK leaves...

HMRC has extended its Making Tax Digital for VAT (MTDfV) pilot scheme to all eligible businesses. For most businesses, compliance with the regulations is mandated for VAT return periods beginning on or after 1 April 2019. However, MTDfV for some ‘more complex’...

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that ‘austerity is coming to an end - but discipline will remain’. He also promised a ‘double deal dividend’ if the Brexit negotiations are successful...

HMRC is warning that taxpayers could face penalties if they fail to declare their income on foreign assets before new ‘Requirement to Correct’ legislation comes into force. HMRC is urging UK taxpayers to come forward and declare any foreign income or profits on...