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When are VAT payments due?

When are VAT payments due?  Businesses submitting quarterly VAT returns are required to pay VAT due 1 month and 7 days following the end of the end of the VAT period. For example, a VAT period ending on 31 March will require payment of the VAT liability by the 7 May....

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How is VAT calculated?

How is VAT calculated? The standard rate of VAT 20%. If the goods or services you are supplying are standard rated, then the easiest way to calculate the VAT that you must add is to divide the price (excluding VAT) by 5. For example, if you provide a service for...

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What does the budget hold in store for pensions?

With the Budget less than a week away, much of the talk is whether Chancellor Philip Hammond will once again turn to pensions to help fund the Government’s NHS spending commitments.   Hammond has described tax incentives to save for retirement as “eye wateringly...

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Business fear a no deal Brexit

Businesses large and small are starting to panic at the prospect of a no deal Brexit and the nightmare scenario that this will bring.  Despite promises from Theresa May that she is confident of a deal by Christmas, business leaders are highly sceptical,  given the...

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