Domestic reverse charge (DRC) in the construction industry.

The Domestic Reverse Charge (DRC) in the construction industry starts on the 1st October 2020.  Below is what Xero has to say about it and this is the link to their page :- https://www.xero.com/blog/2019/08/domestic-reverse-charge-in-the-construction-industry/ The regulation intends to cut down on “missing trader” fraud, where companies receiving high net amounts of VAT from their customers […]

What is MTD (Make Tax Digital) and how does it affect your business?

MTD is the abbreviation for HMRC updating their VAT rules and it takes effect from April 2019.  Basically, this means that any company with a turnover of £85,000 or more who are VAT registered must submit their returns through a certified system. So, it will no longer be acceptable to file your returns (if you […]