Transfer of Business as a Going Concern

The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be

Your tasks if a VAT-registered business

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. Businesses with turnover below this level can also apply for a voluntary VAT

VAT on imported vehicles

The Notification of Vehicle Arrivals (NOVA) is an online notification system for vehicles entering the country for permanent use on UK roads.

You can use the service if you are:

a VAT-registered

VAT guidance for overseas sellers

New simplified VAT guidance for overseas sellers has been published by HMRC. The guidance also includes a new translation into simplified Mandarin to help support Chinese retailers that sell goods

Changes in VAT penalties

The first monthly returns and payments affected by HMRC’s new VAT penalty regime were due by 7 March 2023. The new VAT penalty rules apply to the late submission and / or late payments of VAT returns