All VAT registered businesses, regardless of taxable turnover, will legally be required to follow MTD for VAT requirements from their first VAT Return Period starting on or after the 1st April 2022. This means that all VAT registered businesses must use MTD compatible software to keep records digitally and submit their tax returns unless exempt.
Month: March 2022
Spring Statement – Measures For Businesses
Spring statement – measures for business The Chancellor this week presented the Spring Statement. Measures to support businesses include: Cutting fuel duty on petrol and diesel by 5p per litre for 12 months, worth around £200 for the average van driver and £1,500 for the average haulier. Increasing the Employment Allowance from £4,000 to £5,000,… Continue reading Spring Statement – Measures For Businesses