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Budget 2021: VAT News

  • EXTENSION TO THE TEMPORARY REDUCED RATE OF VAT OF 5% UNTIL 30 SEPTEMBER 2021 AND A 12.5% RATE FOR THE 6 MONTHS AFTER
  • EXTENSION OF MAKING TAX DIGITAL (MTD) TO ALL VAT REGISTERED BUSINESSES
  • MAINTAINING RATES AND THRESHOLDS
  • VAT DEFERRALS FROM THE FEBRUARY, MARCH AND APRIL 2020 QUARTERS
  • Fairer penalty system

Source vatnav.com

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