- HMRC has updated Notice 700/2 on VAT groups
- Changes include updates on late-payment and late-submission penalties and the group application process
- The update includes a new section on the interaction between VAT group changes and the late-submission penalty regime
- There are also changes to reflect that most group applications should now be made online
- Other recent changes include updates to VAT Notice 708 on buildings and construction
- There is also a new postal address for those unable to use the online service for claiming a VAT refund for a new home or charity building.
Source: taxjournal.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Kingdom"
- UK Should Lower or Abolish VAT Threshold to Boost Small Business Growth and Efficiency
- Lowering VAT Threshold Risks Breaching Labour’s Manifesto, Warns Self-Employed Association
- UK VAT Threshold Debate: Growth-Boosting Increase or Revenue-Raising Decrease at Autumn Budget?
- Chancellor Proposes Raising VAT Registration Threshold to £100,000 to Boost UK Economy
- ICS2 Implementation for Northern Ireland: Transition Details and Support for Carriers by HMRC