Pro-Taxman

Business Startup

More time to pay back deferred VAT and Tax

At the start of the pandemic, VAT registered businesses were given the option of deferring payment of any VAT that fell due in the period from 20 March 2020 to 30 June 2020. Self-assessment taxpayers were also given the option of delaying their second payment on account for 2019/20, which was due by 31 July …

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Do you run a business? Should you register for VAT? What are the conditions? We answer all these questions here

All traders – whether sole traders, partnerships, or limited companies – are obliged to register to charge and pay VAT once annual sales reach a pre-set annual threshold. This threshold remains at £85,000 for the year commencing 1 April 2019. The annual VAT threshold is determined by total sales and is not the same as …

Do you run a business? Should you register for VAT? What are the conditions? We answer all these questions here Read More »