New VAT registration service from 1 August
A new VAT registration service goes live for accountants and tax advisors on 1 August 2022. What does this mean for registrations awaiting submission?
The benefit of the new service is that when advisors register their clients for VAT, they will be automatically signed up for MTD for VAT. Currently, there is a requirement to sign up for each service separately. So how does this affect any current applications? Any saved, incomplete registrations will be lost if they are not submitted by 5.00pm on 31 July 2022. 31 July is a Sunday so, in reality, advisors will need to review incomplete registrations before the close of business on Friday 29 July. It may be more efficient to scrap any in progress applications and register clients on or after 1 August, to take advantage of the automatic MTD registration. Further information is available here.
Related Topics
-
Directors to face identity checks under Companies House reforms
Companies House has published further guidance on the introduction of mandatory identity verification for company directors and other individuals involved in company filings. The change forms part of the reforms introduced by the Economic Crime and Corporate Transparency Act 2023. What do you need to know?
-
Review how much VAT charged on sales?
A recent Tribunal case ruled that HMRC’s logic was flawed in dealing with a “what is the supply” challenge. Does this mean you should check that you are charging VAT correctly on your sales if there could be doubt about what you are selling?
-
Are buy-to-let companies worth the hype?
There’s no doubt that landlords have been on the receiving end of multiple tax hikes in recent years. So called “property experts” will tell you that the best tax-saving strategy is to operate through a company. Are they right?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.