Tax & VAT Blog

VAT (or value-added tax) is a tax imposed on most goods and services in the UK. There are three rates of VAT; standard, reduced and zero-rated. The differences between these rates and their impact on VAT returns are as follows: Goods and services in the UK may fall into one of these 3 different rates…

Jaffa Cakes: Cake or Biscuit? The age-old debate that was taken to court. Who knew VAT could be interesting? Who would have known that the bounds of confectionery, sweets, chocolates, chocolate biscuits, cakes and biscuits would be taken to court? And why is it so important whether the confectionary in question is a cake or…

Making Tax Digital (MTD) is the name of the Government’s ambition to change the way in which we record financial data and report this information to HMRC. It requires taxpayers to keep digital records, instead of manual ones, and communicate with HMRC using a different reporting system to that which is currently in operation. Why…