From the monthly archives: November 2009

Major changes to VAT in 2010

On November 12, 2009 By

In 2010 three major changes to VAT will be introduced.

1. VAT rate
On 1 January 2010 the standard rate of VAT reverts to 17.5%

2. VAT registered businesses
The VAT rules for businesses who:

Supply services to or receive services from overseas businesses Supply goods to other EC countries Reclaim VAT incurred [...]

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Tax Scams

On November 10, 2009 By

HMRC are warning of a scam, which has become widespread in recent months, offering a tax rebate from HM Treasury with the aim of stealing users ID and passwords. HMRC report that they would never send out notices of a tax rebate by email or invite anyone to fill in an online form.

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VAT paper returns to be phased out

On November 6, 2009 By

VAT paper returns are to be phased out completely by 1st April 2010. VAT returns will instead be filed online and payments made electronically. This will apply to all newly registering business and also established businesses whose annual turnover exceeds £100,000.

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