Revenue and Customs – Brief 13: Changes to VAT treatment of retained payments and deposits

In December 2018 HMRC published a policy paper, Brief 13, which explains their new approach to payments and the subsequent VAT, for unfulfilled supplies. This paper is aimed at any businesses that retain payments or takes deposits for goods or services, which customers may not take up, and outlines a new interpretation on a slightly murky area of VAT obligations.

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Customers Attention Getting More Difficult to Grab

As a business owner, you must learn how to attract potential customers. Even if you already have customers, you must continue to attract more. Perhaps you might think that this is just an easy job. However, it takes more efforts. You need to sell your product or service by attracting customers. Unfortunately, this is difficult to achieve since consumers are exposed to numerous advertisements each day. Read more

Changes to HMRC’s MTD guidance and procedure

As predicted, January brought about a revised version of HMRC’s VAT Notice 700/22: Making Tax Digital for VAT. The purpose of the notice is to explain the digital records that businesses will need to keep, and to supply information on what counts as compatible software, and it is important that all businesses begin to familiarise themselves with what is going to be expected, when the MTD process begins in April 2019. This version corrects a number of errors in the original, alters the conditions for applying for the ASA, and further details the soft-landing period. Detailed below are some of the changes to note…

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Achieving your 2019 sales goals – A step by step process.

For many businesses, the new year brings new, enthusiastic goals and targets, with companies of every variety setting their new business aims for the year. The SMART goal framework is a good way to approach this. (Specific, measurable, achievable, relevant and time-bound.) However there is more that can be achieved, and better ways to keep on target, so here are a few ideas to help you on the way to a better process for managing and achieving this year.

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