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
-
HMRC writes to non-domiciled taxpayers following rule changes
HMRC has begun issuing “one-to-many” letters to individuals affected by recent changes to the tax rules for non-UK domiciled taxpayers. The letters prompt recipients to review their tax position under the new regime. What does this mean if you receive one?
-
Can officers ignore minor input tax errors?
If your business has claimed input tax on an invoice where the supplier has charged VAT incorrectly, HMRC can disallow your claim by issuing an assessment. Can the officer waive that power to achieve a common sense outcome?
-
Practical guide: Tax-efficient will planning with residential property
An individual has a significant property portfolio which provides them with their sole source of income. They want to gift shares in some property to their daughter but retain the income. Can they do this without triggering the reservation of benefit rules?
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.